(HBO) – Thanks to preferential credits, policy beneficiaries in the northern mountainous province of Hoa Binh have expanded their business and production, built houses and encouraged learning, thus creating more jobs, raising income and contributing to sustainable poverty reduction, along with fulfilling targets of the national target programme of building new-style rural areas in the province.
With
preferential credits of the Vietnam Bank of Social Policies (VBSP), people in
Bac Yen village, Yen Mong commune (Hoa Binh city,) improve household economy,
raising their income.
With loan trust, the VBSP branch in Hoa Binh city and local organisations
built a network consisting of money-savings-and-borrowing groups, with the
participation of all communes and wards in the city, to gather poor households
and policy beneficiaries which are looking for financial sources to set up
businesses, create jobs and improve livelihoods.
The city has 163 groups and 15 transaction posts operating one designated
day of the month. The groups support people’s access to services of the VBSP,
with simple procedures and financial sources handed directly to borrowers, thus
meeting their demand and contributing to the socio-economic development and
people’s livelihood.
Hoa Binh city has carried out 12 social policy credit programmes.
As of the end of August, total loan for nearly 4,700 families reached about
92.24 trillion VND (3.95 billion USD), with 0.78 percent overdue.
The loan for clean water and environmental hygiene was more than
32 billion VND, for creating jobs 16.85 million VND, for student worth around
13.77 million VND, and for household businesses in disadvantaged areas worth nearly
8 billion VND, among others.
Thanks to preferential credit, the families were able to expand
their business, build more houses and promote learning, which in turn stabilise
and improve their lives.
The credit programmes have helped disadvantaged households send
their children to school to broaden their mind or work abroad, improving their
skills and earning stable income towards sustainable poverty alleviation.
Besides, the programmes facilitating clean water and environmental
hygiene in rural areas help many families access clean water and standard sanitation
works to improve their living conditions./.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.