Women of Phong village contribute to economic development savings fund

(Baonghean.vn) - With small monthly contributions, women's association members of Phong village, Thach Giam commune, Tuong Duong district (Nghe An) have helped each other access low-interest capital to develop the economy.

Ms. Lo Thi Chin has been participating in the Savings Credit Fund of the Phong village branch for 1 year now. With a loan of 30 million VND for production capital, she boldly invested in raising chickens, raising frogs, and growing agricultural products. She directly brought the products to the market for consumption. Thanks to the capital source of the local savings credit fund, women in difficult circumstances like Ms. Chin have been given the opportunity to borrow capital at low interest rates to develop their economy.

With access to low-interest capital, many women in Phong village boldly develop production.

The model of on-site credit savings groups of women's association members in Phong village aims to build capital to support women in solving immediate difficulties, encourage women to form the habit of saving from small amounts of money, create capital to invest in production or consumption when necessary. This method promotes the internal strength of each household in the community to support members and poor women in economic development, encourage the spirit of mutual love and mutual assistance in the community.

Every month, the regular meetings of the “Women Helping Each Other to Develop the Economy” Club of the women of Phong village are always bustling and crowded. The club started operating in 2015. After a while, the women saw that this credit savings group model was operating effectively, so they voluntarily applied to join. So far, there are 25 members. From contributing to the local credit savings fund, the club has created conditions for 20 members to borrow capital for production and escape poverty.

Previously, the Phong village women's association was supported by the OXFAM project. When the project withdrew, the women continued to promote that project. Up to now, the fund's capital has reached 76 million VND, allowing women to develop livestock and crop farming.

Many women in Phong village also develop their businesses from borrowed capital.

Ms. Lu Thi Thien - President of the Women's Union of Thach Giam Commune (Tuong Duong) added: In addition to paying attention to economic development, the branch regularly focuses on gathering members to participate in the activities of the Association, mobilizing women to participate in the organization of the Association. Through participating in the Association, women are always aware of preserving the national cultural identity, uniting to help each other in all areas of life such as sharing experiences in maintaining happy families, helping each other develop the economy.

From the practical effectiveness of the credit savings model at the Women's Union of Phong village, in the coming time, the Women's Union of Tuong Duong district aims to continue maintaining 100% of the credit savings fund model that has been operating, and at the same time build and develop this model in 18 communes and towns, striving to have 90% of women members in the whole district participate in at least one type of savings./.

Charter