Policy credit promotes economic development in Dien Chau

Economic developmentfrom policy loans

Following the staff of Dien Chau District Policy Bank, we visited the broiler chicken farming model of Mr. Le Van The's family in Hamlet 4, Dien Trung. Mr. Trung said that he and his wife are farmers, he often takes advantage of the free time to work as a construction worker, but for the past two years he has invested in chicken coops.

With a loan of 100 million VND from the near-poor household loan source of the Dien Chau District Social Policy Bank, plus the accumulated capital, the couple invested nearly 500 million VND to build a barn to raise 3,500 broiler chickens. Currently, this is the second batch, about a month from now, it will be ready to sell.

The broiler chicken farming model of Mr. Le Van The's family in hamlet 4, Dien Trung commune (Dien Chau) borrowed 100 million VND from the Vietnam Bank for Social Policies. Photo: Thu Huyen

“My family is in difficult circumstances, with many children, but thanks to the bank creating favorable conditions for loans to invest in livestock farming and economic development, life is now more stable, and we have the conditions to raise our children and educate them. Now my husband and I encourage each other to do business to pay off the bank debt, develop the family economy, and stabilize our lives.
Ms. Pham Thi Hai - Chairwoman of the Women's Union of Dien Trung commune said: Dien Trung is a poor commune in the coastal area of ​​Dien Chau district, currently has a debt balance from the Social Policy Bank of nearly 30 billion VND, of which the debt balance from farmers' organizations is over 10 billion VND, and the women's union is over 9 billion VND. In Dien Trung, loans for economic development mainly focus on raising chickens and shrimp. With the advantage of coastal sandy land, in recent years, Dien Trung commune has strongly developed shrimp farming on sand, the whole commune has nearly 60 households raising shrimp with a total area of ​​50 hectares, mainly white-leg shrimp.
Visiting the shrimp farming model of Mr. Nguyen Tien Cuong's household in Hamlet 2 when he had been releasing shrimp for 2 months, Mr. Cuong said that shrimp farming on sand is a breakthrough in Dien Trung district, taking advantage of saline land and vacant land included in the planning for farmers to raise aquatic products. Many households have received loans from the district's Social Policy Bank to renovate ponds and develop livestock farming.

The shrimp farming model of Mr. Nguyen Tien Cuong in Hamlet 2, Dien Trung Commune (Dien Chau) was developed from a loan from the Social Policy Bank. Photo: TH

“Last winter crop, although I only raised 1 pond, I harvested over 1 ton of shrimp. To invest in the main crop, I borrowed 100 million VND from the policy bank from the capital source of newly escaped poverty households to renovate and upgrade the pond. With 4 ponds with an area of ​​1000 m2, it will be ready for harvest in about 1 month. This crop is basically favorable, I hope to pay off all the bank debt and continue to invest in the next crop" - Mr. Cuong shared.

Concentrate capital

Mr. Nguyen Van Tuan - Director of Dien Chau District Social Policy Bank said: In the first 6 months of 2020, the unit has done a good job of capital mobilization, strengthened management and disbursement of credit programs, actively contributing to poverty reduction, job creation, ensuring social security and new rural construction in the district. Thanks to that, policy credit capital has been transferred to the right address, promptly and fully meeting the loan needs of poor households, near-poor households, newly escaped poverty households and other policy beneficiaries.

Dien Chau people develop seafood processing industry. Photo: Thu Huyen

The District People's Committee has allocated the budget to transfer to the Social Policy Bank to provide loans to poor households and other policy beneficiaries. In the past 6 months, the district and commune budgets have allocated 750 million VND, completing 107% of the 2020 plan. By June 22, 2020, the remaining capital from the local budget reached 3,075 million VND, contributing significantly to creating a stable source of capital for lending to poor households and policy beneficiaries in the district.

Since the beginning of the year, Dien Chau has allocated 112 billion VND of new capital and recovered capital to blocks and hamlets, meeting the capital needs of poor households, near-poor households, newly escaped poverty households and other policy beneficiaries with capital for production and business.

Along with that, the unit has actively taken advantage of capital from the Central Government and local budget capital, promoted capital mobilization beyond the assigned plan targets, basically meeting the demand for loans to develop production and business and serve the essential needs of life for poor households, near-poor households, newly escaped poverty households and other policy beneficiaries in the area. The total capital managed as of June 22, 2020 reached 662,769 million VND, an increase of 25 billion VND compared to 2019, completing 98.5% of the 2020 plan.

Graphics: Lam Tung

In addition, the Dien Chau District Social Policy Bank also increased savings mobilization through savings and credit groups; the organizations entrusted by the district, commune, and town have actively participated in directing from the beginning of the year with many effective solutions; thanks to that, the mobilization of savings deposits of poor households and policy beneficiaries through savings and credit groups has grown steadily and sustainably.

According to Mr. Pham Xuan Sanh - Vice Chairman of Dien Chau District People's Committee, Head of the Board of Directors of the District Social Policy Bank, in the first 6 months of 2020, Dien Chau District Social Policy Bank has disbursed 110 billion VND in loans, ensuring capital sources for poor households and policy beneficiaries, actively contributing to poverty reduction, job creation, ensuring social security and building new rural areas in the district. Policy credit activities have made important contributions to the economic and social development achievements of the town, people's lives have been increasingly improved and stabilized, especially poor households, near-poor households, newly escaped poverty households and other policy beneficiaries; contributing to the successful implementation of the poverty reduction and new rural construction goals, stabilizing security and politics in the locality.

Up to now, 21,263 households have outstanding policy credit with the amount of 655 billion VND. The loan has helped 8,836 poor households, near-poor households and households that have just escaped poverty have capital to produce and do business, gradually escape poverty, 526 households have eliminated temporary and dilapidated houses under the housing support loan program for poor households, built 13,276 clean water works and standard sanitation works to help improve the living environment, nearly 2,600 students with difficult circumstances have borrowed money to go to school, 656 workers have borrowed money to create jobs, 320 workers have gone abroad to work, 1,560 households in difficult areas have borrowed money to produce and do business...