Nghe An: 160,000 households escape poverty thanks to policy credit capital

(Baonghean.vn) - The Nghe An Provincial Bank for Social Policies Branch officially began operating on April 9, 2003. After 15 years of operation, it has successfully fulfilled the political goals and tasks assigned by the Party and the State.

Immediately after its establishment, under the direction of the Vietnam Bank for Social Policies, the Nghe An Branch of the Vietnam Bank for Social Policies has well organized the reception of capital sources from preferential credit programs, mobilized capital from organizations, individuals, and entrusted capital from the local budget.

Overview of the conference. Photo: Viet Phuong

By August 31, 2017, the total policy credit capital managed by the Nghe An Social Policy Bank reached over VND 7,000 billion, 22.3 times higher than the first day of establishment, with an average annual capital growth rate of 24%.

From 03 credit programs handed over with a total outstanding debt of 307 billion VND, after 15 years of operation, up to now, the Nghe An Provincial Bank for Social Policies Branch is implementing 18 credit programs assigned by the Government and a number of policy credit programs from capital sources entrusted locally, monitoring and managing over 297 thousand borrowing households, accounting for about 38% of the total number of households in the province.

Mr. Nguyen Duc Hai - Deputy General Director of Vietnam Bank for Social Policies spoke to acknowledge the achievements of Nghe An social policy credit. Nghe An is considered the leading locality nationwide in many social policy credit activities. Photo: Viet Phuong

According to the synthesis, up to now, the total lending turnover of the Nghe An Social Policy Bank has reached 17,675 billion VND, with 1.3 million poor households and policy beneficiaries receiving loans, 160,000 households have escaped poverty. Every year, over 85,000 poor households, near-poor households, newly escaped poverty households and other policy beneficiaries receive policy credit loans to develop the economy, solve employment as well as serve essential needs of life.

The Government's preferential credit programs implemented by the Vietnam Bank for Social Policies are truly an important capital channel, a "midwife" for poor households and policy beneficiaries, especially in rural areas and areas with particularly difficult socio-economic conditions. The organizational model and method of policy credit management are increasingly improved, suitable for practice and effective.

Comrade Le Xuan Dai - Standing Vice Chairman of the Provincial People's Committee presented a banner with the words "Provincial Social Policy Bank - 15 years of solidarity, construction, innovation and development" to the Provincial Social Policy Bank. Photo: Viet Phuong

Awarding Certificates of Merit from the Provincial People's Committee Chairman to outstanding individuals. Photo: Viet Phuong

After listening to the speeches of the organizations and localities, speaking at the conference, comrades: Le Xuan Dai - Standing Vice Chairman of the Provincial People's Committee, Nguyen Duc Hai - Deputy General Director of the Vietnam Bank for Social Policies acknowledged and highly appreciated the achievements of the system of policy banks at all levels and entrusted socio-political organizations, credit policies have contributed to hunger eradication, poverty reduction, and new rural construction.

Impressive numbers after 15 years of operation of Nghe An Social Policy Bank. Graphics: Huu Quan

In order for 100% of poor households and other policy beneficiaries who have needs and meet the conditions to have access to capital provided by the Social Policy Bank; Complete 100% of the credit plan assigned by the Central Government; Average annual credit growth rate from 7% - 10%, bad debt ratio below 0.4%, it is recommended that the Social Policy Bank continue to coordinate with relevant departments, branches and agencies to effectively implement social policy credit. Strengthen coordination with entrusted socio-political organizations, commune and village authorities to lend to the right subjects and effectively use policy credit capital.

The comrades also noted that the Nghe An Social Policy Bank implements synchronous solutions to increase resources for policy credit, prioritize policy credit capital for ethnic minorities, stabilize their lives and maintain border security. Innovate and improve the effectiveness of inspection and supervision by the Board of Directors, internal inspection of the Social Policy Bank, socio-political organizations, Savings and Credit Group Management Board, local authorities and especially inspection and supervision of the people with the motto "people know, people do, people inspect"...

From policy capital, many households have invested in renovating clean water and toilet facilities. In the photo: The clean water facility was invested from the NHCS loan of Mr. Bui Xuan Dai's family in village 5, Hoi Son, Anh Son. Photo: Viet Phuong

Nghe An is a poor province, the demand for loans of policy beneficiaries is still very large. Therefore, at the conference, Vice Chairman of the Provincial People's Committee Le Xuan Dai requested the Central Bank for Social Policies to prioritize allocating more capital to credit programs for near-poor households, newly escaped-poverty households, production and business households in difficult areas, clean water and rural environmental sanitation, and loans to create jobs.

On this occasion, the Provincial People's Committee awarded a banner with the words "Provincial Social Policy Bank - 15 years of solidarity, construction, innovation and development" to the Provincial Social Policy Bank; awarded Certificates of Merit from the Chairman of the Provincial People's Committee to 21 collectives and 20 individuals with many achievements in their work./.

Viet Phuong