Improve life

The preferential loans actually help many individuals have the opportunity to work abroad and earn high incomes. Typically, Lang Van Su's family live in Dong Cong village of Bao Son commune (Luc Nam district). His family belongs to an ethnic minority household.

Staff of the Lang Giang district Transaction Office of the Social Policy Bank disburses loans for overseas laborers.

More than 8 years ago, Su's father had a work accident and suffered very poor health, leading to economic difficulties and seriously degraded house. In 2022, his family had to borrow money to rebuild the house and stabilize their living conditions.

Su intended to work abroad many times to pay off the debt and improve the family economy, but he could not manage due to high cost.

In April 2023, thanks to guidance from the staff from the District Transaction Office of Social Policy Bank, Su borrowed 50 million VND (over 2,000 USD)to go to Taiwan (China) to work for 5 years.

His mother Long Thi Ngan said: "Thanks to the preferential loan, my son can go to work abroad. Since then, he has sent home 12-15 million VND every month. We have paid off the debt for building a house and have capital to develop the economy".

According to Dam Ngoc Nga, Director of the Luc Nam district Transaction Office of the Social Policy Bank, the whole district currently has 30 cases in the communes of Dong Hung, Luc Son, Tam Di, Binh Son, Nghia Phuong, Dong Phu, Bac Lung, Bao Son... who are receiving preferential loans to work abroad with high income. The outstanding debt of the above customers is currently more than 1.8 billion VND.

Facilitate procedures

According to the Provincial Social Policy Bank, up to now, the whole province has 324 customers borrowing capital to work overseas with an outstanding debt of nearly 23 billion VND.

Most of them go to work in Taiwan (China), Republic of Korea, Japan... Some localities have a large number of customers borrowing capital such as: Son Dong, Luc Ngan, Luc Nam and Yen The.

These cases have stable jobs and incomes, many individuals can earn from 30-40 million VND per month. Customers who borrow capital all pay interest and part of the principal on time.

In order to effectively promote the program of lending capital for labor export, in recent times, the Provincial Social Policy Bank has coordinated with the Department of Labor, Invalids and Social Affairs, local Party committees, authorities and mass organizations to promote the propaganda of the Party's guidelines, policies and laws of the State on labor export.

At the same time, the competent agencies keep popularizing information on the foreign labor market so that people can make appropriate choices. In particular, the Provincial Social Policy Bank has directed the district-level Transaction Office to create favorable conditions in term of procedures to promptly disburse loans to laborers under contracts.

Nguyen Van Canh, Deputy Director of the Provincial Social Policy Bank, said: “The bank assigns staff to strictly review and appraise the documents of customers in need of loans. Documents that meet the regulations are disbursed promptly, creating convenience for customers. In particular, the Provincial Social Policy Bank directs the transaction offices at lower level to request the organizations that receive entrusted loans at the grassroots level to organize and collect interest and principal on time”.

The timely implementation of the labor export loan program of the Provincial Social Policy Bank has become an important capital channel, helping solve employment for workers and promote socio-economic development in the area.

In the coming time, to effectively implement this program, the Social Policy Bank will continue advising local Party committees and authorities to coordinate with departments, branches and organizations to direct the task of labor export; focusing on promoting the content of preferential loans to all subjects so that people can access loans conveniently.