Bui Van Nam from Chua hamlet, Tu Ne commune, Tan Lac district, completes repayment of a student loan to the VBSP after both his sons graduated from university and secured stable jobs.
One day in June, Bui Van Nam – a resident in Chua hamlet, Tu Ne commune, Tan Lac district – visited the commune's transaction point to settle a student loan from the VBSP. Years ago, his family decided to borrow policy funds to invest in their children's university education. The investment has yielded fruit, with their sons now working in the educational and medical fields.
Nam shared that the family had many difficulties, so deciding to send the boys to university put them under significant pressure. With so many expenses to cover, without the State's preferential capital support it could be extremely hard for them to do so and reap the fruits of today. "My family is deeply grateful for the Party’s and State's policy funding, which enabled our disadvantaged children to pursue education.”
Meanwhile, Ha Van Nhuong's family in Man Duc town’s Hong Duong residential area also reaped fruitful results thanks to the policy credit. With a loan of 50 million VND (2,000 USD) from the bank, their economic situation has steadily improved. Through grapefruit cultivation and livestock farming, they now earn over 150 million VND on an annual basis.
Currently, 15 policy credit programmes are being implemented in Tan Lac district, with a debt balance from over 15,600 households totaling 575.4 billion VND. In the first half of 2024 alone, the local trade office of the VBSP disbursed over 105.7 billion VND to poor households and other policy beneficiaries, hence the creation of more than 300 jobs as well as the construction of 675 clean water and 648 household sanitation facilities.
Director of the office Nguyen Tuan Ngoc said local residents still have high demand for policy loans. In recent years, to supplement funds for preferential credit programmes, in addition to annual allocations from higher-level banks, the branch has advised authorities of the district to allocate a portion of the local budget to the VBSP’s operation here. "We have also actively mobilised idle funds within the community," Ngoc added.
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