Social policy credit improves livelihood of people in Hoa Binh city

9/28/2018 - 2:59:43 PM

(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./.

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