Over the past 20 years, capital from the Social Policy Bank (SPB) of Que Phong district, Nghe An province has helped many women members in the area develop the economy and reduce poverty.
The family of Ms. Vi Thu Dung, in Muong Hin village, Tien Phong commune, has been poor for many years. In addition to farming on a few fields, Ms. Dung also does many jobs, but when her children grew up, the cost of living increased, despite frugal spending, life was still difficult. After many times participating in activities with the Women's Association of the village, Ms. Dung was informed and visited economic development models. Realizing that her family also had a lot of land and a ready source of labor, she boldly borrowed 50 million from the People's Credit Fund of Que Phong district to invest in buying 3 cows, a few pigs, chickens and raising fish.
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| Staff of the People's Credit Fund of Que Phong district guide women members to use banking services on mobile phones. |
Thanks to the help of the Women's Union members and the bank's policy capital, Dung's family's economy has gradually improved. After 5 years of hard work, her family now has 8 cows with a total value of more than 100 million VND. In addition, Dung's garden always has enough fish, chickens, and pigs to sell and meet the family's food needs.
Since receiving a loan from the district's Social Policy Bank, Ms. Dung's family life has completely changed. She also enthusiastically shares with her neighbors about farming methods suitable for each type of garden in each family.
Ms. Lang Thi Thanh - Chairwoman of Tien Phong Commune Women's Union said that up to now, the Commune Women's Union has entrusted 16 billion VND for 480 member households to borrow capital. In recent years, many households have developed models of gardens, ponds, barns and afforestation. In Muong Hin village alone, there are 3-4 households that have developed good economic activities. The loan capital is only 30-50 million VND but has helped households develop their economy and reduce poverty.
Up to now, Tien Phong commune has had 418 members who have received preferential loans from the Vietnam Bank for Social Policies to develop garden, pond, barn and forest economy. Most members have used the loans effectively. The models of garden, pond, barn and forest economic development have brought in good income.
Mr. Dang Xuan Huy, Deputy Director of the Social Policy Bank of Que Phong district, said that along with the efficiency of capital, the quality of the staff working on loan entrustment through the Women's Union in the past time has also done quite well. In the total outstanding loan balance entrusted through the Women's Union of 105 billion VND with 66 loan groups, the overdue debt of the association is only 0.09%, lower than the average of the whole district of 0.18%. The rate of savings and loan groups of the Women's Union classified as good reached 95%.
Preferential capital from the Vietnam Bank for Social Policies has helped women expand livestock production and exploit the potential advantages of land. The capital also helps poor households have labor force, promote labor, to produce and do business, stabilize their lives, strive to get rich, contribute to hunger eradication and poverty reduction, and build new rural areas.
In the coming time, the district Social Policy Bank will continue to coordinate with the trust organization in general and the Women's Union in particular to continue to bring capital to farmers in the district. Thereby, contributing to the effective implementation of poverty reduction, ensuring social security, contributing to the successful implementation of the resolution of the district Party Congress.
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