Policy capital helps Nam Dan people develop economy

EFFECTIVENESS IN KIM LIEN COMMUNE

Kim Lien Commune, Nam Dan District has 25 hamlets and over 3,200 households; Originally a purely agricultural countryside, but now thanks to the attention of the Party and State in investing in infrastructure works, the production situation and socio-economic life of the people here have improved a lot.

In particular, from the loan capital of the District Social Policy Bank through the entrusted activities of 4 organizations and unions: Women's Union, Farmers' Union, Veterans Union and Youth Union, in recent years, thousands of households have had access to capital with preferential interest rates, thereby contributing to helping many households escape poverty and become rich.

Mr. Tran Khac Nhuong in Hoi 3 hamlet, Kim Lien shared with leaders of Nam Dan district People's Credit Fund about the effectiveness of loan capital. Photo: Thu Huyen

If in 2018 there were 72 poor households, now there are 50; currently the poverty rate has decreased to 0.26% (mainly elderly households, single households without support). The outstanding debt of Kim Lien commune at the Social Policy Bank of Nam Dan district is 22,453 billion VND, with 10 loan programs. Among the organizations receiving entrusted loans, the Veterans Association has the largest outstanding debt of more than 11 billion VND.

Next to the newly built spacious house, Mr. Tran Khac Nhuong - a member of the Veterans Association in Hoi 3 hamlet, Kim Lien commune shared: "In 2012, through the Veterans Association, I was able to borrow 30 million VND to invest in raising pigs, chickens, and cows. Since then, my family's economy has begun to stabilize, and in 2014 we escaped poverty. Then, from the 50 million VND loan to near-poor households, I continued to invest in raising livestock and farming. The economy has stabilized, and I have built a spacious, spacious house."

Mr. Tran Khac Nhuong escaped poverty and stabilized his life thanks to a loan from the State Bank of Vietnam. Photo: Thu Huyen

In addition to borrowing capital to develop the family economy, he also borrowed from the student program to send his two children to university. Currently, his family's eldest son has finished university and has a job. The youngest son is a fourth-year student. "My family currently owes the bank 70 million VND in student loans and 50 million VND in loans from the poverty reduction program. We were able to borrow capital with low interest rates, and monthly interest payments are also very convenient. The capital from the Social Policy Bank is truly a lifesaver to help farming families like us escape poverty and raise our children to study," Mr. Nhuong shared.

Not only have they escaped poverty, but thanks to the good use of loan capital, many poor households have had the opportunity to become rich. One of them is the family of Mr. Nguyen Ha Trung in Sen 4 hamlet, Kim Lien commune. In 2008, Mr. Trung borrowed 50 million VND from the job creation loan of Nam Dan Social Policy Bank to develop his family's economy. Currently, his family has a 3.5-hectare livestock farm, digging ponds to raise fish and raise pigs.

Capital from the Social Policy Bank is also a “lifesaver” for many poor households in raising their children to study. Up to now, hundreds of households in the commune have borrowed capital from this program. Among them, many have graduated and are working; dozens of them are studying at colleges and universities.

Most of them after graduating find jobs in their field or work in companies or industrial zones, so they can help their families. Many families have escaped poverty and built decent houses.

Mr. Tran Le Chuong - Chairman of the People's Committee of Kim Lien Commune, Nam Dan said: The capital of the Social Policy Bank is very important in helping people in Uncle Ho's hometown develop the economy, especially when the commune is striving to reach the model new rural area by the end of 2019.

Along with capital, we also actively direct associations and unions to coordinate with district authorities to strengthen training and transfer of science and technology to help people improve efficiency in livestock and crop farming.

We hope that the Social Policy Bank will continue to pay attention and allocate more resources to help policy beneficiaries access capital because in reality, there are still some programs that do not have enough capital to meet the needs of borrowers.

EFFECTIVE CAPITAL CHANNEL

Over the past 16 years, the credit programs of the Social Policy Bank implemented in Nam Dan have contributed to creating income for the poor and increasing the district's economic growth. In 2018 alone, the Social Policy Bank continued to invest capital in economic development loans to serve the goal of poverty reduction, focusing on programs for poor households, near-poor households, and households escaping poverty with a total loan turnover of more than 93 billion VND, accounting for 82.8% of the total loan turnover, with 2,023 customers receiving loans.

Graphics: Lam Tung

In addition, capital sources for social security and new rural construction continued to be focused on, with loan turnover reaching more than 19 billion VND, accounting for 17.1%. Thanks to that, 85 households have eliminated temporary and dilapidated houses; 3,310 households living in rural areas have borrowed capital to build 3,281 clean water and rural environmental sanitation works that meet standards, helping to improve the living environment; 74 workers have been given new jobs...

Thanks to that, many poor households have escaped poverty, creating conditions for near-poor households and households with difficulties to access student loans, reducing the burden on families and encouraging the movement of studying and starting a business for young people. This is also the direction to create stable jobs in the future and reduce the number of surplus workers in the area.

War invalid Phan Viet Hai in hamlet 6, Nam Giang commune, Nam Dan district borrowed preferential loans to invest in cattle farming. Photo: Thu Huyen

Loan programs for overseas laborers, clean water and environmental sanitation, near-poor households, and newly escaped-poverty households have created favorable conditions for people to have the opportunity to become rich sustainably, contributing to helping Nam Dan build a new countryside and become a cultural district of the whole province.