Offering capital for farmers

Binh Duong has strongly developed industry and service with the density of 61.5% and 35%, respectively. Agriculture only accounts for 3.5% but it still plays an important role in improving local residents’ life and helping to change rural image in the province. 

Industrial tree growing and breeding have been focused by local farmers. The two areas require strong investment in technique and technology…, so their demand on capital source is very huge. To solve the problem of capital for farmers, local Farmers’ Society at all levels have over years developed fund sources, including the Fund for Farmers, aside from capital sources from the national goal program and local budget.

In 2012, localities at all levels have mobilized more than 100 units and nearly 1,000 individuals to support the funds and offered non-interest loans worth over VND2bil for poor farmers. This figure lifted the Fund for Farmers’ total capital source up to over VND23bil in late 2012.

Apart from capital source from the Fund for Farmers, in 2011 and 2012, local farmers enjoyed capital sources from the local Bank for Social Policies. Over the past 2 years, farmers’ society at all levels offered capital sources worth nearly VND80bil for over 5,000 households.

Nguyen Thi Tuyet Nhung, director of the Fund for Farmers’ executive board, said productive support for farmers is a significant deed, creating impetus for farmers in joining in mass bodies’ activities, especially emulation movements in good production and business.

Efficiency

Together with supporting capital sources for farmers, farmers’ society at all levels has constantly controlled usage and management of capital sources. Therefore, these capital sources have promoted their efficiency.

In 2008, Nguyen Van Quyen in Suoi Sau hamlet in Tan Uyen district enjoyed a VND10mil loan from the district Bank for Social Policies to invest in cow breeding and cultivation. After a short time, he has escaped poverty. Quyen boasted “Thanks to assistance from local authorities, my family has enjoyed a stable life. At present, I have intended to build a model of growing mushroom for the sake of improve income”.

Similarly, Pham Minh Cu in Binh Co hamlet in Tan Uyen district has escaped poverty thanks to a VND10mil loan from the communal Farmers’ Society. He has so far possessed over 10 cows.

These capital sources from farmers’ society at all levels have helped many farmer households develop production and business.

In 2012, Dau Tieng district Farmers’ Society spent about VND2bil to offer capital for over 300 households. The society has been assessed a unit leading in developing supportive fund for farmers.

Possibly speaking, funds for farmers have promoted their efficiency, helping poor families improve life and declining the poverty rate at 1.42%. This result has positively impacted on new rural building in the province.

Reported by T.Dung – Translated by A.C