Emerging from preferential loans

Update: 19-11-2017 | 08:09:26

Thanks to the preferential loans of the Social Policy Bank, many disadvantaged households in Phu Giao District have been effectively financed and strived to escape poverty to stabilize their lives.

Among the families effectively using loan from the Bank for Social Policy in Phu Giao district. Typically, Pham Thi Phin's family, in Quarter 3, Phuoc Vinh town in 2006 was able to borrow VND 15 million from the Social Policy Bank to buy one cow for raising. A year later, her family added a calf from her mother. Realizing that the family used the capital effectively, in 2007 she was able to borrow another VND15 million to buy another cow. Thanks to the loans, her family has overcome the most difficult period.

Family of Pham Thi Het at Tan Hiep Commune effectively makes use of loans for Social Policy Bank to escape poverty

In 2008, the family of Nguyen Thi Ngoc in Phuoc Vinh town was also granted a loan of VND 30 million from the Social Policy Bank for the development of her household business. Having the capital resources, Ngoc opened a small grocery store and bought cattle for breeding. Ngoc was excited by the help. Up to now, the family has two cows and a daily grocery store, enough for them to cover life. Her family is about to pay off their loans to the bank.

Pham Thi Het's family, living in Hamlet 6, Tan Hiep commune, used effectively preferential loans provided by the Vietnam Bank for Social Policies to escape poverty. Her family has 6 people, including 2 couples and 4 children. The family has no land for production, the husband and wife do not have stable jobs, so her family is a poor household in the locality. In 2014, her family is considered by the People's Committee to support many preferential policies to do business to escape poverty. Supported by the State’s policies, up to now, her family has escaped from poverty.

"Thanks to the attention and support of the authorities at all levels to create favorable conditions for my family to have access to supportive policies of poor households and preferential loans, my family has invested in the construction of cattle farm. So far, the herd has provided stable income and life has been improved," Het said.

With the bank loan of VND 40 million, Het's family bought a pair of cows and built a farm for raising livestock. To date, the family has built a herd of cows with 6 cows. At present, her family has been recognized by the Commune People's Committee as a way of getting people out of poverty and sustainably escaping poverty.

In order to further improve the effectiveness of credit loan programs, Pham Quoc Du, Director of the Transaction Office of Bank for Social Policies in Phu Giao, said that in the near future, the transaction office would be fully deployed with the resolutions of the Managing Board, and the guiding documents of the General Director of Vietnam Bank for Social Policies and the local administrations. In addition, the transaction office will advise the district People's Committee to strengthen the direction of social policy credit activities in the spirit of the 40^th Secretariat's Direction of the eleventh tenure on strengthening the leadership of the Party towards the credit offering to focus on the sources of capital from the entrusted budget through the Bank for Social Policies, acting as a coordinator so that the policy beneficiaries can access and use the preferential loans effectively.

Reported by Hai Sam – Translated by Vi Bao

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Emerging from preferential loans

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