(HBO) – From the start of this year, Mai Chau district of Hoa Binh has more than 3,000 poor households and policy beneficiaries eligible for preferential credits to improve their economic conditions.
The social policy credit programme has served as a ‘midwife’ for hunger eradication and poverty alleviation efforts in the mountainous district.
Photo: Staff at a transaction office of the Bank for Social Policy in Mai Chau district examine the use of preferential loan of a family in Hich 2 village of Mai Hich commune.
There is high demand for preferential credits as there are many disadvantaged villages and communes in Mai Chau.
The family of Ha Cong Song was among the poor ones in Hich 2 village of Mai Hich commune. Due to capital shortage, they could only make ends meet on maize and rice cultivation.
After receiving a preferential loan in 2010, Song was able to build stables for cattle. To date, the family has owned two buffaloes and five bulls, enjoying an income of more than 50 million VND (2,170 USD) a year. They successfully escaped poverty.
The social policy credit programme significantly contributes to Mai Chau’s poverty reduction work, with the rate of poor households dropping nearly 3 percent annually.
Director of the transaction office of the Bank for Social Policy in the district Vu Hoai Nam said despite the complicated developments of COVID-19, the bank has exerted efforts to basically complete set targets and timely disburse preferential credits to beneficiaries.
In the first 10 months of 2021, the district mobilised in excess of 30.5 billion VND from social sources, 8.2 percent higher than the target.
Entrusted capital in the locality rose to 741 million VND, meeting the plan.
Outstanding loans under the social policy programme increased by 19.7 billion VND compared to the same period last year, meeting 99.9 percent of the set target.
Total outstanding loans to date has exceeded 311 billion VND. The programme is viewed a leverage in hunger eradication and poverty reduction, as well as plays an important role in the implementation of the national target programme on building new-style rural areas.
For example, the transaction office of the Bank for Social Policy in Mai Chau has paid heed to preferential loans to carry out a programme on clean water and rural hygiene.
Thanks to the programme, nearly 1,000 new clean water works have been built in the district, and rural hygiene is improved.
Nam said that in the coming time, the bank will continue to study the local demand for preferential loans so as to devise appropriate plans. It will roll out efficient programmes for eligible beneficiaries and improve credit quality in the locality./.
Once a mountainous province facing many challenges, Hoa Binh has, after more than a decade of implementing the national target programme on new-style rural area development, emerged as a bright spot in Vietnam’s northern midland and mountainous region. In the first quarter of 2025, the province recorded positive results, paving the way for Hoa Binh to enter a phase of accelerated growth with a proactive and confident mindset.
Hoa Binh province is steadily advancing its agricultural sector through the adoption of high-tech solutions, seen as a sustainable path for long-term development.
The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments
A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.
Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.
From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.
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