Da Bac Social Policy Bank Transaction Office: Bringing capital to the poor

Implementing the Government's policy on deploying preferential credit capital for poor households and other policy subjects, in recent times, preferential credit capital of the Social Policy Bank Transaction Office in Da Bac has reached most of the poor households and other policy subjects in the district, contributing to sustainable poverty reduction and ensuring social security in the locality.

The family of Ms. Dinh Thi Quyet, Dam Phe hamlet, Duc Nhan commune is a near-poor household that has lived mainly on farming for many years with an unstable income. Previously, due to lack of capital and experience, her family's life was always in a state of shortage. In 2022, thanks to the preferential loan policy from the Social Policy Bank, Ms. Quyet was able to borrow 60 million VND from the near-poor household program to invest in breeding cows and planting forests. After two years, the family's herd of cows has grown to 5, bringing in a stable income. Thanks to this source of income, her family not only has enough to cover their living expenses but also has the conditions to fully educate their children. In 2023, Ms. Quyet's family borrowed an additional 20 million VND from the clean water program to invest in building water tanks and sanitation facilities to improve their quality of life. Her family pays interest in full every month and also participates in savings through the loan group. Ms. Quyet's story is a clear demonstration of the effectiveness of preferential credit policies in supporting poor and near-poor households to rise up and improve their lives.

With preferential loans, people of Da Bac commune invest in growing fruit trees, bringing economic efficiency.

In order to effectively carry out lending activities, in the process of implementing preferential credit policies, the Da Bac Social Policy Bank has entrusted loans to 4 organizations and unions: Farmers' Association, Women's Union, Veterans' Association and Youth Union. Currently, the Da Bac Social Policy Bank Transaction Office implements 17 policy credit programs, lending and debt collection activities mainly take place at 17 transaction points in 6 communes. Maintaining the effective operation of 242 savings and loan groups managed by organizations and unions at the grassroots level to help people access capital more easily. The savings and loan groups have truly promoted their role in entrusting and managing policy credit capital in hamlets and residential areas, creating conditions for poor households, near-poor households and policy beneficiaries to access loans conveniently and promptly. Up to now, the total outstanding debt of policy credit programs has reached over 681,709 million VND with 10,386 households still in debt, of which the loan program for poor households has the highest outstanding debt of over 222 billion VND with 3,549 borrowers, the loan program for near-poor households has outstanding debt of over 155 billion VND with 2,536 borrowers, the NS&VSMT loan program has outstanding debt of over 70 billion VND with 3,117 borrowers...

Loan capital is guaranteed to be for the right subjects, for the right purposes, and to be used thoroughly. The capital utilization ratio is constantly improving, overdue debt is low, accounting for 0.05% of total outstanding debt; savings mobilization reaches nearly 13 billion VND.

Credit officers of the Social Policy Bank Transaction Office in Da Bac disburse preferential capital to poor households to develop family economy.

Mr. Nguyen Binh Nam, Director of the Da Bac Social Policy Bank Transaction Office, said: Getting capital is difficult, but making capital profitable is even more difficult, especially for poor households in ethnic minority areas. Therefore, the Da Bac Social Policy Bank Transaction Office not only disburses loans but also advises and supports households in using loans effectively and for the right purposes. Actively coordinates with departments, branches, and organizations to disseminate and guide borrowers in applying science and technology to production and business, building appropriate economic models to gradually promote the effectiveness of capital sources, and increase people's income. Along with that, the Da Bac Social Policy Bank also strengthens coordination with functional units to organize inspections and supervision of the implementation of preferential credit policies in localities, savings and loan groups, borrowers, and entrusted socio- political organizations; procedures, business regimes, ensuring that policy credit capital reaches the right beneficiaries, promoting the effective use of capital according to the set credit program objectives. Through lending trust groups, preferential credit policies are propagated and implemented democratically and publicly, thereby creating favorable conditions for people and other policy subjects to have the opportunity to access preferential capital sources of the State.

Credit officers check loan books of borrowers in Quy Duc commune

It can be affirmed that the preferential credit programs that the Da Bac Social Policy Bank has implemented in the past time have been promoting positive effects, having a strong impact on the lives of the poor and policy beneficiaries in the area, creating conditions for them to improve and gradually improve their quality of life. Thereby, contributing to the successful implementation of socio-economic development goals, reducing the poverty rate by 3-4%/year in the communes.

Dinh Thang

Source: https://baophutho.vn/phong-giao-dich-nhcsxh-da-bac-dua-von-den-tay-nguoi-ngheo-240918.htm