Diversify capital sources to support people and businesses

With a loan from Agribank , Tuan Giao district branch, Ms. Doan Thi Thoa, Tan Giang block, Tuan Giao town, Tuan Giao district, effectively built a macadamia processing model ***. In the photo: Ms. Doan Thi Thoa processes macadamia nuts.*** *Photo: Pham Trung*

At the recent dialogue between the Chairman of the Provincial People's Committee and farmers, the issue of accessing capital to develop production projects, especially in the agricultural sector, was of interest to many farmer members. Chairman of the Provincial People's Committee Le Thanh Do requested local Party committees and authorities to strengthen propaganda, dissemination and widely announce programs and loan channels so that all farmers, cooperatives and businesses can know and access them. At the same time, actively coordinate with credit institutions to create conditions for people to access and borrow preferential loans to serve production and business activities.

The Bank for Social Policies, Dien Bien Branch, is a credit institution that has accompanied the people, especially poor households in the province, for many years. In 2023, the Bank implemented 23 loan programs; by the end of September 2023, the total outstanding loan balance reached over VND 4,300 billion, with nearly 92,000 customers. Policy credit capital is always given priority by the people because it is a source with preferential interest rates, loan terms, simple and quick procedures and many loan channels, especially the entrusted activities through socio -political organizations: Youth Union, Women's Union, Veterans Association and Farmers' Association.

By October 2023, the Pu Nhi Commune Veterans Association (Dien Bien Dong District) managed 4 savings and loan groups with 190 members; total outstanding debt of VND 8,508 billion, no overdue debt. From preferential capital from the Social Policy Bank, many member families have invested in developing economic models: Raising livestock, poultry, growing macadamia trees... creating regular jobs, increasing income, and stabilizing life.

Mr. Lo Van Cuong, Nam Ngam village (Pu Nhi commune) shared: Social Policy Bank capital is easy to access, with preferential interest rates, suitable for people in the highlands. From preferential capital through the Commune Veterans Association, I have the conditions to develop a poultry farming model. Up to now, the model has brought in an income of more than 80 million VND/year.

In recent years, the Bank for Agriculture and Rural Development (Agribank), Dien Bien branch has always allocated the proportion of outstanding loans to agriculture, rural areas and farmers to over 50% of the total outstanding loans; actively supporting and promoting economic restructuring in agriculture, contributing to hunger eradication and poverty reduction, and achieving socio-economic development goals in the area. By the end of July 31, 2023, the total outstanding loans to the agricultural and rural sector reached VND 3,786,393 billion, accounting for 53% of the total outstanding loans, with a total of 14,932 customers. In particular, focusing on key areas such as: Crop production with outstanding loans of VND 3,703 billion with 88 customers; livestock production with outstanding loans of VND 378.69 billion with 2,530 customers; mixed crop production - livestock production with outstanding loans of VND 2,307 billion with 12 customers; Related service activities have outstanding debt of 205,869 billion VND with 308 customers; agricultural products have outstanding debt of 396,035 billion VND with 527 customers; forestry products have outstanding debt of 10,912 billion VND with 8 customers; aquatic products have outstanding debt of 3,890 billion VND with 7 customers...

Mr. Van Dinh Viet, Director of Agribank Tuan Giao District Branch, said: Implementing Decree No. 55/ND-CP of the Government on credit policy for agricultural and rural development, the unit has fully and promptly deployed credit policies and programs to the people in the area. Currently, there are 87 loan groups, 1,423 members, outstanding loans reaching 112 billion VND.

In 2019, Ms. Doan Thi Thoa (Tan Giang block, Tuan Giao town, Tuan Giao district) received a loan of 300 million VND from Agribank Tuan Giao district to invest in a macadamia processing technology line. By 2022, the Bank continued to create conditions for Ms. Thoa to borrow an additional 200 million VND to expand the production scale including: 2 warehouses for storing macadamia nuts, investing in more machinery, canning and packaging technology, investing in building product brands... Up to now, Ms. Thoa's macadamia processing facility consumes more than 40 tons of macadamia nuts/year, selling more than 20 tons of canned dry nuts to the market. With a selling price of 270,000 VND/kg of finished macadamia nuts, each macadamia crop, Ms. Thoa's facility achieves a revenue of over 5.4 billion VND. Ms. Doan Thi Thoa said: During its operation, the facility always has the support of Agribank Tuan Giao district branch. When a facility needs a loan, the Bank always creates favorable conditions in all stages from appraisal, file approval to loan disbursement.

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