Local cooperatives, credit funds’ revenue up 6.9%

Since early this year, province-based cooperatives and credit funds have obtained stable growth with total revenue of VND875billion, or 69.5% of the year and up 6.9% against last year’s corresponding period.

Provincial Cooperative Alliance has also teamed up with provincial Steering Boards of Collective Economic Development and its branches to set up additional 10 cooperatives, bringing the total number of cooperatives in the province so far to 114 with 56,619 members and total charter capital of nearly VND660billion.

The whole province is now home to 344 cooperative groups on animal husbandry and cultivation with 5,744 members. Over the past time, they actively coordinated with credit institutions to provide members with loans to develop their homebased business, contributing to the local job creation, hunger eradication and poverty reduction.

Reported by Thoai Phuong-Translated by K.T