(HBO) - Preferential credit policy has accompanied poor and policy beneficiaries households in Hoa Binh, a mountainous province with many difficulties, for decades. It has become an important driving force to help the poor gradually overcome challenges, making steady progress in poverty reduction and hunger eradication.

 


Photo: Thanks to social policy loans, the family of Bui Thi Hoa, residing in Kho hamlet, Chi Dao commune (Lac Son district) has invested in animal husbandry and escape poverty.

Chi Dao is a remote commune of Lac Son district where people's living conditions are facing difficulty. Poor and near-poor households account for over 40 percent of the commune's population.

Quach Cong Thai, Chairman of the commune People's Committee, emphasised that social policy loan is one of the most important driving forces in the commune's hunger eradication and poverty reduction.

In recent years, thanks to access to social policy loans, many poor, near-poor households and social beneficiary policy families have raised buffaloes and cows, pigs and chickens, and growing doi (Talauma), also known asMichelia Tonkinensis,for economic development and increase their income.

Up to now, the total outstanding loans under social policy credit programmes in the commune has reached over 11 billion VND with over 500 households receiving loans. According to the chairman of the commune People's Committee, as many people lost their jobs due to the COVID-19 pandemic, the timely disbursement of policy capital has helped reduce difficulties for them.

Not only people in Chi Dao commune but also those in other localities have benefit from social policy loans.

The COVID-19 pandemic has affected all aspects of people’s social life over the past two years, however, the Vietnam Bank for Social Policies’ branch in Hoa Binh province has strived to mobilise sources and provide loans for poor households and other policy beneficiaries.

Nguyen Minh Hung, Director of the branch said the total outstanding loan balance from policy credit programmes in the province has surpassed 3.5 trillion VND (over 153.8 million USD), with over 123,000 needy households as borrowers.

From the beginning of the year until now, the loan turnover has reached over 896 billion VND, helping over 25,000 customers access loans for production, business, and social security.

Through preferential credit policy, nearly 2,000 workers got jobs and over 12,000 clean water and environmental sanitation works were constructed. As many as 19 houses were built, 39 workers were able to go abroad for working, and 31 students and students in difficult circumstances could continue study thanks to such loans.

Social policy loans have continued to make practical contributions to sustainable poverty reduction, acting as a driving force to accelerate the progress of the new-style rural development programme as well as to limit shark loans in the province./.

 


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