Rising up from preferential loans

Over the past time, Dau Tieng district’s branch of the Bank for Social Policies created favorable conditions for the local people to get preferential loans for economic development. Many households in the district have so far risen up out of poverty and got rich from these preferential loans.

Dau Tieng district is now home to 299 saving groups under 4 mass organizations, namely the War Invalids’ Association, the Women’s Union, the Farmers’ Association and the Youth Union. Over the past time, loan disbursement was implemented as stipulated under the close monitoring of the local government and branch of the Bank for Social Policies.

Thanks to loans from the Bank for Social Policies, Nguyen Xuan Liem’s family in Dinh Hiep commune in Dau Tieng district has developed a herb of 12 cows

Thanks to loans from the branch, many local households not only escaped poverty, but also become typical examples in economic development. For example, Le Thi Them residing in Thanh An commune got VND30million in loan from the branch for economic development. She used the loan to open a variety store and buy a cow. So far, she has had a total of 5 cows and paid her loan to the branch.

Or, Nguyen Xuan Liem in Dinh Hiep commune also rose up out of poverty, thanks to preferential loans from the branch. In 2013, the communal Farmers’ Society helped him got VND30million in loan from the branch to buy 2 cows. Till now, his family has owned 13 cows with the annual income of hundreds of million of dong. His family has also got involved in growing and supplying markets with safe vegetables. Upon this, his family’s economy has got better and better.

Nguyen Ngoc Hiep, Chairman of Dinh Hiep communal Farmers’ Association said that the association has strengthened dissemination of information about the government’s preferential credit policies among members; actively guided members about effective models before getting loans; regularly made inspection to ensure that loans are used properly and repaid as stipulated…

Tran Dang Khoa, Director of the district’s branch of the Bank for Social Policies said that upholding results done, the unit will further boost lending and debt collection; strengthen inspection over projects being implemented…In addition, the unit will also continue ensuring the proper use of loans from borrowers; creat new jobs for laborers, thereby contributing to victoriously realizing the district’s targets on socio-economic development.

So far, the branch’s total outstanding loans have reached more than VND326.26billion. Since early this year, the unit has considered and provided loans for 3,079 poor households…The rate of the unit’s overdue debt has accounted for 0.41% of the total outstanding loans. As assessed, the unit’s loans have actively contributed to helping the district reduce the rate of the local poor households so far to 0.58%.

Reported by Hong Nga-Translated by K.T

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