Effective use of concessional loans from the Vietnam Bank for Social Policies (VBSP) has been seen as a "key” for poor households and policy beneficiaries in the mountainous district of Da Bac to improve income and better the quality of life towards sustainable poverty reduction.
An
official from the Vietnam Bank for Social Policies’ Da Bac district branch
studies capital demand from a Da Bac local.
As the only impoverished district of Hoa Binh
province, Da Bac has a great demand for this kind of loans. Over the past
years, Da Bac is one of the localities with the highest amount of outstanding
debt.
To date, total outstanding credit in the
district has topped 546 billion VND (22.58 million USD), with nearly 14,000
customers. During January – October, 1,896 impoverished households and policy
beneficiaries got access to some 75.5 billion VND in preferential loans, helping
them develop business models to get out of poverty.
With 56.7 billion VND of concessional loans
granted to more than 1,000 households, Tu Ly is the commune with the largest
amount of outstanding credit in Da Bac district. From the outset of the year, 240 households in
the commune have been able to take out loans from the VBSP.
According to an official from the communal
People’s Committee, the loans have an important role to play in alleviating
poverty and building new-style rural areas. Meanwhile, Vice Chairman of the People’s
Committee of Hien Luong commune Xa Van Hoe described them as a locomotive for
the residents to improve income, and help the commune meet the advanced
standards of the new-style rural area building.
Xa Van Huy in Doi hamlet invested 100 million
VND that he took from the bank in tens of fish cages. To date, the fish cage
model has earned his family a stable income.
Statistics from Hien Luong commune showed that
total outstanding credit in the commune has neared 22 billion VND so far.
During January – October, the VBSP gave preferential loans to 116 households,
helping generate jobs for 11 labourers and renovate and build 140 clean water
facilities.
Director of the VBSP’s Da Bac district branch
Nguyen Binh Nam said the bank will mobilise more resources to meet the capital
demand of the local residents, contributing to realising the district’s
socio-economic development and poverty reduction targets, and ensuring social
security.
Recognising the importance of environmental criteria in building new-style rural areas, Hoa Binh province’s Party committees and authorities have focused on protecting the rural and craft village environment. These efforts have transformed the rural landscape and gradually improved local living standards.
With an allocation of 44 billion VND (1.72 million USD) under the national target programme on socio-economic development in the ethnic minority-inhabited and mountainous areas for the 2021-2025 period, Hoa Binh city has invested in the target areas, creating many changes in the living conditions of local ethnic minority communities.
The social security system at all levels in Hoa Binh province has been making concerted efforts to ensure benefits of citizens and workers when they participate in social insurance and health insurance.
With the motto "for the interests of the union members and employees”, in 2024, Tan Lac District’sLabor Federation has implemented many activities towards the grassroots. They have been paying attention and protecting the legitimate and the legal rights of the union members, employees, the civil servants, and laborers, which has been contributing to motivating and encouraging the spirit of the union members and the laborers to enthusiastically compete in labor production, actively contributing to the development of the agencies, units and enterprises.
