(HBO) – Over the past years, preferential loans provided by the Vietnam Bank for Social Policies (VBSP) have assisted farmers in Da Bac district in household economic development, thus helping to create jobs, raise income and improve living standards of rural residents.
Thanks to soft loans of the VBSP, residents in Tam hamlet of
Cao Son commune (Da Bac district, Hoa Binh province) have developed animal
To facilitate locals’ access to preferential
credit, the VBSP branch in the district has actively coordinated with sectors
and organisations to boost communications to help people learn about lending
programmes and loan sources.
There are 244 savings and borrowing groups with
9,509 members across Da Bac at present. On average, every commune has 12
groups, each with 40 members. At those groups’ regular meetings, the VBSP’s
credit staff inform participants about capital growth, the rates of poor,
near-poor and policy beneficiary households eligible for borrowing, as well as
lending and loan disbursement procedures.
The bank has held meetings with local
authorities, organisations, and management boards of savings and borrowing
groups. At the same time, it has also provided training to help cadres and
residents further understand the VBSP’s activities and the Party and State’s
new preferential credit policies.
At present, the VBSP Da Bac branch is
implementing 14 preferential credit programmes with total outstanding loans
topping 354 billion VND (15.2 million USD) for 9,500 households. More than 99
percent of the credit is supplied in the form of entrusted loans via four
socio-political organisations. Aside from promoting verification to disburse
loans in a timely manner, the branch has also worked closely with associations,
organisations, and savings and borrowing groups to encourage people to use the
capital for right purposes effectively.
As a result, credit quality has been improved,
and the rate of overdue debts reduced to only 0.03 percent of total outstanding
loans. Almost 5.4 billion VND has also been deposited in savings accounts via
the bank’s communal transaction offices in Da Bac.
In 2019, 3,437 clients borrowed from the VBSP.
Preferential loans helped create jobs for 110 labourers, build 918 water supply
facilities and sanitary works in rural areas, and construct 133 houses for poor
families. They also served as a source of support for local students to enroll
in universities, colleges and vocational schools, and for 1,469 disadvantaged
ethnic minority households to develop production and business activities./.
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Despite FDI shown signs of a slowdown as a result of the negative impact of COVID-19, experts believe that the nation will be able to welcome an array of fresh dual investment after the pandemic.
(HBO) – The complicated developments of COVID-19 have seriously affected all social aspects, especially economic development. Growth decline was recorded in many fields. In the first quarter of 2020, the gross regional domestic product (GRDP) was estimated at 6.62 percent. The figure is projected at 4.57-5.86 percent in the second quarter due to the impact of the pandemic on business and production activities.
(HBO) – Numerous efforts made in the first months of the year have contributed to the 6.6 percent increase in the aquatic product output of Hoa Binh province. The province is home to 43 aquaculture farms and cooperatives, of which 13 are specialised in farming. The aquaculture farming areas in the province span 2,686ha, with 4,630 fishing cages.
(HBO) – Hoa Binh farm produce trademark has become popular in recent years. It is the result of concerted efforts, including biotechnological application in agriculture.
(HBO) – The Bank for Agriculture and Rural Development in Yen Thuy district, Hoa Binh province, simplified lending procedures, reformed lending model and methods and coordinated with communes, towns, associations of farmers and women, and other socio-political organisations to roll out favourable lending methods during the first quarter of this year.