More than 12,000 billion VND in loans for the poor

In 2012, the Vietnam Bank for Social Policies disbursed VND12,703 billion to more than 80,000 poor households to borrow capital for production investment.

Bringing capital to the village - Photo: Chinhphu.vn

Speaking with reporters of the Government Portal, Mr. Nguyen Van Ly, Deputy General Director of the Vietnam Bank for Social Policies, said that although 2012 faced many difficulties in capital sources, the Vietnam Bank for Social Policies tried to ensure enough capital for people to borrow for production investment.

Outstanding debt as of November 30, 2012 reached VND 41,274 billion, an increase of VND 2,792 billion compared to 2011. In addition, debt collection turnover in the 11 months of 2012 was VND 9,901 billion, which is a significant source of capital for revolving loans.

Provinces with large outstanding debts include: Hanoi city 1,329 billion VND; Bac Giang 1,024 billion VND; Son La 1,014 billion VND; Quang Nam 1,028 billion VND... This capital source has helped nearly 3.3 million poor households have the conditions to invest in production development, escape poverty and strive to become rich legitimately.

Ms. Ly Thi Kim, a poor household in Na Nin village, Ban Lau commune, Muong Khuong district, Lao Cai province, said, in July this year, she applied for a loan of 30 million VND from the Social Policy Bank to invest in livestock and crop farming. Up to now, that source of capital has not only helped her family have jobs but also created significant profits for her family to ensure their lives.

Trieu Van Dong is the youth leader of La Bang commune, Dai Tu district, Thai Nguyen province - a mountainous commune with a sparse population. Entrusted with managing a number of savings and loan groups from the Social Policy Bank, Dong is concerned with finding ways to help young people and people use capital effectively, escape poverty and become rich legitimately.

Based on the strength of local tea production, Dong and his colleagues in the Executive Committee coordinated with organizations and unions to open science and technology training courses for youth and people in the commune, introducing new high-yield tea varieties and seedling nursery farm models into production...

At the same time, the Commune Youth Union also mobilizes, encourages and guides young people to apply science and technology in raising livestock, poultry, beekeeping, forestry, etc. on a farm scale. Up to now, the Commune Youth Union has built 5 economic development models.

With the enthusiasm of youth, and the support of preferential capital from the Government, in the commune now there are no youth union members from poor households; the average income of young people in the commune is from 3-4 million VND/month.

The government's preferential capital is not only managed safely, but also used effectively. In particular, the youth in the commune also undertake to participate in the clean tea development program, safe youth tea, which has brought high efficiency.

Also this year, Nguyen Thanh Hai’s family in Bac Lieu has risen out of poverty thanks to preferential loans from the Vietnam Bank for Social Policies. In previous years, his family received loans from the poverty program to invest in aquaculture and fruit trees. Thanks to hard work, his family has gradually paid off all debts and escaped poverty.

According to (Chinhphu.vn) – LT