Effective preferential loan sources to solve employment

Preferential loans for job creation are identified as one of the important programs to support poor households and policy households to have stable income and ensure their lives. Therefore, the Social Policy Bank of Phu Tho town has implemented many solutions, creating favorable conditions for people to access preferential loans of the program.

Borrowing 50 million VND from the Employment Loan Program, Mr. Ha Minh Tam's household, Zone 6A, Ha Thach Commune, invested in developing a mechanical workshop, creating regular jobs for 5 local workers.

Over the past years, the Town's Social Policy Bank has done a good job in providing policy credit to beneficiaries through the organization model and the specific credit capital transfer method of the Social Policy Bank. In order for capital to reach the right subjects, the Social Policy Bank has increased coordination in propagating the incentives of the job creation loan program to the people; coordinated with Party committees, authorities, associations and unions to innovate action programs, integrate credit activities with agricultural and industrial promotion programs, and transfer of science and technology to improve the efficiency of capital use in production and business development projects, and create jobs for workers. At the same time, proactively balance capital sources to fully and promptly meet the needs of households.

Along with that, the Social Policy Bank closely coordinates with entrusted organizations and unions in appraising, supervising, and managing loans, helping workers, production and business establishments use loans effectively, creating a stable source of income for workers. With a wide network of operations, capital has been invested in 100% of localities across the town, capital reaches the headquarters of the People's Committees of communes and wards to disburse, collect debts, and collect interest under the witness and supervision of local authorities, entrusted organizations and unions, and heads of savings and loan groups.

Mr. Nguyen Ngoc Lam - Director of the Phu Tho Town Social Policy Bank said: Loans for job creation is a program to create jobs, reduce unemployment in society, contribute to shifting the structure of crops and livestock, and transfer science and technology in agriculture and rural areas. This is one of the credit programs that people have a great need for loans. Especially, after the severe impact of the COVID-19 epidemic and after the recent storm No. 3, this source of capital has been increasingly focused on by the Social Policy Bank to lend to people. Since the beginning of the year, loans for job creation is one of the two credit programs with the highest loan turnover of the unit.

In the first 9 months of 2024, the capital source of the employment credit program has provided timely investment capital for production and business, creating jobs for nearly 250 local workers. Most of the loan projects are invested in livestock, crop cultivation, development of secondary occupations, traditional occupations and general business. Of the total number of loan projects, projects belonging to household economy account for the majority, concentrated in rural areas, mainly attracting idle agricultural labor force. To date, the outstanding loan balance of the employment credit program has reached nearly 62.4 billion VND, with 1,268 customers still having outstanding loans.

Through preferential credit capital for job creation, the Social Policy Bank of Phu Tho town has supported many disadvantaged workers, people with disabilities, and rural workers with loans to have the opportunity to access capital to expand and develop production and business activities, contributing to creating and self-creating jobs for themselves, their families, and the community.

Phuong Thao

Source: https://baophutho.vn/hieu-qua-nguon-von-vay-uu-dai-giai-quyet-viec-lam-220761.htm