(HBO) – Loans from the Vietnam Bank for Social Policies’ branch in Mai Chau district have contributed to supporting local poor people and policy beneficiaries to overcome difficulties in the context of the complicated developments of the COVID-19.
Mr. Ha Cong Sinh’s family in Bang
village, Bao La commune of Mai Chau district, has got out of poverty thanks to
using social policy loans in breeding cows.
Over recent years, the Vietnam Bank for Social Policies (VBSP)’s branch in Mai
Chau district has worked hard in mobilising capital to promptly meet the credit
demand of local people, thus helping thousands of households create sustainable
livelihoods.
Mrs. Dinh Thi Dua’s family in Bang hamlet, Bao La commune, was previously a
poor household and met economic difficulties because they had no capital for
production. Her family has escaped from poverty thanks to effectively using
social policy loans in raising buffaloes.
Mr. Ha Cong Sinh's household in the same hamlet also got a loan of 42 million
VND to develop cow husbandry, thanks to which his family’s economy has
gradually stabilised.
Directorof the transaction office of theVBSP in Mai Chau district
Vu Hoai Nam said despite the impact of the COVID-19 pandemic, the bank well
performed tasks and plans set in 2021, with loans provided quickly to those who
needed.
The bank lent 122 billion VND to about 3,400 poor and near-poor households and
other policy beneficiaries, helping them promote economic development and
construct clean water and environmental sanitation works.
In the first two months of this year, the policy credit loans topped 16 billion
VND. The total outstanding loans of credit programmes stood at over 321 billion
VND, up 6.8 billion VND compared to the beginning of the year.
Nam said his agency will focus on lending growth credit sources; and
classifying debts to assess credit quality in the locality in order to have
solutions to irrecoverable debts.
Attention will be also paid to effectively performing the interest rate support
policy to assist people affectedbythe COVID-19pandemic, he
added./.
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.
.jpg)
