(HBO) – Yen Mong commune has implemented eight social policy credit programmes providing local villagers soft loans with total outstanding debt of more than 8.7 billion VND with 482 borrowers.


Provided with soft loans by the Bank for Social Policies of Hoa Binh city, Nguyen Thi Lam and her family in Moi Mit village, Yen Mong commune had money to build their own clean water supply and sanitation facilities, improving their living conditions.

 Among projects provided with soft loans under the eight social policy credit programmes, those in clean water supply and environmental sanitation have received over 4.6 billion VND, or 52.9 percent of the total outstanding debt, the highest level. More than 1.8 billion VND went to production and business projects while job creation programmes have been offered about 700 million VND.

 Overdue debts accounted for 0.08 percent of the outstanding debts. The savings deposits by the credit programmes’ beneficiaries were worth nearly 500 million VND.

 The commune has 14 groups responsible for verifying local applicants for soft loans and supervising the use of loans.

 To promote the effective use of the provided soft credit, the Bank for Social Policy in Hoa Binh city has coordinated with local authorities and mass organisations to review poor and near-poor households and policy beneficiary families in need of loans and assess if they are qualified.

 The city has not only offered preferential loans for people to expand production but also organised training courses on farming techniques for new crops and livestock and applying technology in agriculture. Local people have been also encouraged to attend short-term vocational training courses to equip themselves with knowledge and techniques to improve productivity.

 The State’s preferential loans have fundamentally met the credit demand of local people, Chairman of Yen Mong commune’s People’s Committee Nguyen Huu Minh said.

 The loans have helped create jobs for thousands of villagers, thus lifting them out of poverty and improving their housing conditions. In addition, they have enabled more local students to pursue higher education, he added.

 By the end of 2018, the commune’s poverty rate fell to 2.1 percent and the per capita income reached 40 million VND per year./.

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