Hundreds of poor households get preferential loans

Over the past two years, the preferential credit policy under Decree 28 has been implemented in five districts in the province, including Luc Nam, Luc Ngan, Son Dong, Yen The and Lang Giang. With preferential loans, hundreds of poor households have expanded their farming and animal husbandry models, changed occupations, gradually developed production, and earned more income.

A typical example is the family of Tong Van Lien from Cao Lan ethnic group in Nghe Man village, Binh Son commune, Luc Nam district. About three years ago, his family was a poor household in the village with two small children. Their life relied mainly on income from a few acres of rice fields.

To develop the economy, he used to raise pigeons, but he did not have capital to buy breeds or build sturdy cages, he only raised 100-200 pairs each year, so his income was not high. At the end of 2022, the family was loaned 100 million VND (3,926 USD) by the Vietnam Bank for Social Policies’ Son La branch (VBSP Son La) with an interest rate of 3.3% per year for four years to expand pigeon farming.

With a stable income and a gradually better life, Lien plans to continue expanding pigeon breeding by the end of this year.

Similarly, a number of other households in Lien's village and in Tam Di, Luc Son, Vo Tranh and Bao Son communes (Luc Nam district) also received preferential loans under Decree 28 to raise buffalos and cows.

According to VBSP Son La, over the past two years, implementing Decree 28, it has disbursed nearly 30.8 billion VND (1.21 million USD) in preferential loans for 329 poor households living in ethnic minority and mountainous areas to develop livestock farming, promote afforestation and change jobs. As a result, many households have stable income and improved quality of life.

Closely monitoring capital use

The implementation of the preferential credit policy under Decree 28 has had a positive impact in helping poor households living in ethnic minority and mountainous areas have more resources to develop their economy.

For the policy to be rolled out promptly, conveniently and effectively, VBSP Son La has proactively advised the provincial People's Committee to promulgate a number of documents and plans to direct departments, agencies, sectors and units to strengthen dissemination of the policy to people in ethnic minority and mountainous areas.

It has also required its district transaction offices to advise the district People's Committees to accurately identify policy beneficiaries.

Nguyen Van Canh, Deputy Director of VBSP Son La, said: "Based on the list of cases approved by competent authorities, the unit has directed its specialized departments and district transaction offices to coordinate with entrusted associations and organizations, relevant groups at the grassroots level to guide people to complete loan documents; focus on disbursement of capital, promptly meeting the needs of households; coordinate in inspection and supervision of loan use”.

Since its implementation, localities have coordinated in checking thousands of households. As a result, households used loans for the right purpose, and effectively, and paid interest and principal on time, he said.

According to Canh, at this time, VBSP Son La continues to direct the district transaction offices to coordinate with specialized departments to review and submit to competent authorities for approval the list of credit policy beneficiaries in 2024 to disburse capital according to the roadmap.

They need to pay attention to guiding households to complete their documents and closely appraise them to ensure loans are given to the right households, he said.

Minh Linh

 

 

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