Social Policy Bank conducts credit survey in Ky Son

As part of the working program in Nghe An, on the morning of June 1, comrade Duong Quyet Thang - Member of the Board of Directors, Secretary of the Party Committee of the Central Bank for Social Policies, General Director and members of the Working Delegation of the Bank for Social Policies had a direct visit to the grassroots to inspect and grasp the situation of implementing social policy credit and the operation of transaction points in Ta Ca commune, Ky Son.

Here, the General Director visited a number of economic models, encouraging people to borrow capital effectively and for the right purposes to escape poverty sustainably, develop the economy and build a new life.

Ta Ca is a border commune of Ky Son district bordering Laos with a natural land area of ​​6,443 hectares; the total population of the commune is 4,779 people with 1,037 households living in 11 villages, mainly Khmu and Thai people.

General Director Duong Quyet Thang visits the farm economic modelTa Ca mountainous communeinvested with loan capital from the Vietnam Bank for Social Policies. Photo: Thu Huyen

By the end of 2017, the number of poor households in the whole commune was 561, accounting for 54.1%; 72 near-poor households, accounting for 6.94%. The average income per capita in 2017 was 9 million VND/person/year. By May 25, 2018, Ta Ca commune was implementing 13 preferential credit policy programs with a total outstanding debt of 27 billion 982 million VND through 3 socio-political organizations, establishing 22 savings and credit groups with 1,046 members. The balance of savings deposits through the groups was 183 million VND. There were 978 ethnic minority households with outstanding debt of 26,230 million VND, accounting for 94.9% of beneficiaries.

The loan programs for poor, near-poor and poverty-escaping households have outstanding loans of 17,758 million VND, accounting for nearly 50% of the total outstanding loans, of which 641 are ethnic minority customers, with outstanding loans of 16,996 million VND, accounting for 95.7%. These are loan programs that account for a high proportion of the total policy credit capital in the commune and are also the most effective programs to help poor households and other policy beneficiaries develop cattle, goats, pigs and chickens to increase economic efficiency.

The delegation presented gifts to Vy Van Dung's family in Hoa Son village, Ta Ca commune, Ky Son, who borrowed capital to invest in an effective farm. Photo: Thu Huyen

Loans for production and business, employment, and labor export have outstanding loans of 4 billion 200 million VND with 128 households borrowing capital, of which 105 ethnic minority households have outstanding loans of 3 billion 386 million VND. Although the number of households receiving loans from these programs is not high compared to the total number of households borrowing, these are households that use capital effectively, which has a great impact in promoting business development, farming, job creation and ensuring social security in the area.

Over the past 15 years, 1,179 households have received loans worth VND 26,230 million; 412 households have escaped poverty. The poverty rate has decreased from 78% in 2003 to 46.4% in 2017. Many households have become well-off. Policy credit loans in the commune have been invested in buying 948 buffaloes, 562 goats, and planting trees to protect forests on an area of ​​up to 25 hectares; Education costs for 251 students studying at universities, colleges, and intermediate schools; Creating jobs and exporting 51 workers abroad; Building 308 clean water and sanitation projects in rural areas to ensure the quality of life of the people; Building 247 houses for poor households... Through the use of capital, 412 households have escaped poverty.

General Director Duong Quyet Thang checks credit information published by the Social Policy Bank at the headquarters of the People's Committee of Ta Ca commune, Ky Son district. Photo: Thu Huyen

Typical are La Van Phuc household in Canh village who borrowed 50 million VND to invest in raising cows combined with VAC, currently has 8 cows, 5 fish ponds, more than 100 chickens; La Thi Chien household in Canh village borrowed 50 million VND, currently has 9 cows, 4 hectares of mahogany and clove trees; Vy Thi Phuong household in Canh village borrowed 30 million VND to invest in raising 5 cows; Vy Van Dung household in Hoa Son village borrowed 20 million VND, currently has 19 cows, 10 goats, more than 100 chickens, and grows various fruit trees; Vy Van Phuong household in Hoa Son village borrowed 30 million VND, currently has 15 cows.

Evaluating the transaction activities of the People's Credit Fund in the commune, the Chairman of the People's Committee of Ta Ca - Vu Va Cha commune said: "Policy credit programs have helped ethnic minority households get used to borrowing capital for production and business to generate income, thereby improving production and business skills and capital management. There are households that have borrowed capital from 2-3 preferential credit programs with outstanding loans of hundreds of millions of VND. Policy credit capital has met basic and essential needs in life, helping people reduce difficulties, reduce diseases, illiteracy, repel social evils, black credit in mountainous ethnic minority areas and gradually improve the quality of life".

The delegation of the Bank for Social Policies gave gifts to children and policy households in Ta Ca commune, Ky Son. Photo: Thu Huyen

Through witnessing the activities at the Ta Ca commune transaction point, listening to the report of the commune transaction team, and checking the loan access process of poor households and policy beneficiaries, General Director Duong Quyet Thang highly appreciated the efforts of Ta Ca commune in transferring and managing preferential credit capital sources in the area.

From the recommendations of the commune government, right at the working session, General Director Duong Quyet Thang promised to accept the recommendations and proposals of the people, continue to invest capital and hoped that social policy credit programs would be implemented more effectively in the coming time.

"With its mission, the People's Credit Fund does not wait for borrowers to come, but always proactively seeks borrowers. However, it must also clearly identify the needs and how much resources are needed before allocating resources, ensuring that capital goes to the right address and is used for the right purpose," shared General Director Duong Quyet Thang.

Thu Huyen