Policy capital to support people

Thanks to policy credit capital, Ms. Le raises cows to develop the family economy .

As scheduled, Ms. Nguyen Thi Tuong Vy - Head of the Savings and Loan Group in Lam Loc 1 village, Phan Ri Cua commune, took us to visit the family of Ms. Pham Thi My Le, a loan borrower in the group. In the small house, Ms. Le happily boasted: "The family has just sold 3 cows, making a good profit. Having gone through a difficult period when my 3 children were young, now I can confidently develop the family economy, raise my children to study, I can see the full value of preferential loans from the Social Policy Bank".

In 2024, through the Commune Women's Union, Ms. Le continued to borrow another 50 million VND to invest in raising cows. From the initial 2 cows, up to now, the family's herd has increased to 7 cows. In addition to natural grazing, she also planted 2 more acres of elephant grass to proactively source food. "With capital and a way to do it, I can feel secure in developing livestock farming, repaying the debt on time and then borrowing more to expand the family economy," Ms. Le said with hopeful eyes.

For many years working as the Head of the Savings and Loan Group in Lam Loc 1 village, Phan Ri Cua commune, Ms. Nguyen Thi Tuong Vy has always been dedicated to her work, acting as a bridge to bring policy capital to the hands of poor households and disadvantaged people. "Currently, the group has 39 members with outstanding loans of more than 1.8 billion VND, with no overdue debts. People borrow capital mainly for farming, raising livestock, and small-scale trading," Ms. Vy said.

Every month, the group meets to check, remind, and encourage disadvantaged households to boldly borrow capital to invest in buying seedlings, livestock, and machinery for production. Thanks to that, not only Ms. Le, but many households in the village have changed their lives thanks to preferential capital.

In Tuy Phong commune, policy capital is also showing clear effectiveness. Thanks to favorable soil conditions, many farmers have boldly expanded their apple growing areas. For example, Ms. Pham Thi Tham was able to borrow 100 million VND from the Social Policy Bank to install a net house system, limit pests and diseases and increase productivity. “Thanks to the low-interest loan, I have better conditions to take care of the garden. The apple garden has a stable output. Prices fluctuate sometimes, but if kept at 10,000 VND/kg, after deducting expenses, the family still has a profit,” Ms. Tham shared.

Mr. Dang Cong Dam - Director of the Tuy Phong Social Policy Bank Transaction Office said: "We always identify bringing preferential capital to the right subjects and using it effectively as a key task. Thanks to the close coordination of the government and organizations, people have timely access to capital and boldly invest in production and business. Many households have escaped poverty and stabilized their lives."

Entering a new phase when the local government switched to a two-tier model, the Tuy Phong Social Policy Bank Transaction Office not only stopped at lending, but also accompanied the people throughout the process of using capital. The unit strengthened inspection and supervision activities so that the capital could truly be effective, contributing to sustainable poverty reduction and promoting local socio-economic development. The Tuy Phong Social Policy Bank Transaction Office strives to effectively promote the role of a solid "bridge", bringing the policies of the Party and State closer to the people, helping thousands of households have more opportunities to escape poverty sustainably.

Source: https://baolamdong.vn/dong-von-chinh-sach-tiep-suc-nguoi-dan-391157.html