Timely capital support

In 2023, Ms. Truong Thi May, Nam Dong commune, Cu Jut district (Dak Nong) was able to borrow 70 million VND under the program for newly escaped poverty households. With the capital, her family bought fertilizer and irrigation pipes to invest in a coffee garden of more than 1.5 hectares.

With good care, the coffee garden's productivity improved. In the last crop, coffee prices increased, and her family earned a good profit. From this profit, her family reinvested in raising more pigs. With the motto "short-term to long-term", the family's economy gradually became more stable.

Ms. May said: “A few years ago, the family economy was difficult. Many times, we had to borrow money from outside to buy fertilizer for our plants. Thanks to the timely support of the Social Policy Bank Transaction Office, our family had the conditions to invest in economic development and was not pressured by high-interest loans.”

The family of Mr. Le Trung Tan, in village 11, also received preferential loans from the Social Policy Bank Transaction Office to raise pigs for meat and initially achieved high efficiency. According to Mr. Tan, accessing capital from the Social Policy Bank Transaction Office has helped people have investment capital and overcome difficulties.

The entire Nam Dong commune currently has more than 1,700 households borrowing capital from the district's Social Policy Bank Transaction Office, with outstanding loans of more than 80 billion VND. According to the Nam Dong Commune People's Committee, loans from the Social Policy Bank Transaction Office have helped local people have more investment resources. Many crop and livestock models have gradually brought about efficiency. The lives of people in the commune are increasingly improving.

Strengthening capital demand review

According to Mr. Pham Xuan Thanh, Director of the Transaction Office of the Social Policy Bank of Cu Jut, the demand for loans from people in the district is very large. Especially for programs such as lending to near-poor households, newly escaped poverty households, job creation, etc.

Grasping this need, the unit has advised the Party Committee, local authorities, and entrusted organizations to step up the review of loan needs at the grassroots level.

The bank gives priority to poor, near-poor and disadvantaged households. During the time when crops and livestock were affected by natural disasters and droughts, the unit closely followed the grassroots to grasp the needs and disburse funds to the people.

Along with reviewing demand and promoting loan disbursement, many measures such as debt extension, debt term adjustment, etc. are implemented by banks to support customers. Through these solutions, borrowers have both investment capital and reduced burden to feel secure in production.

“To make the capital source effective, the unit strengthens inspection and supervision, especially post-loan inspection. We strive to both limit risks after borrowing capital and guide and support borrowers to use it for the right purpose, helping people maximize the effectiveness of the loan source,” said Mr. Thanh.

According to the People's Committee of Cu Jut district, preferential capital from the Social Policy Bank Transaction Office has given farmers more motivation. The local government always directs communes and towns to coordinate with the Social Policy Bank Transaction Office to effectively implement credit programs.

The difficulties and obstacles in the process of implementing policy credit programs in the area have been focused on by the district. Thanks to that, the capital that the District Social Policy Bank Transaction Office lends is always effective, helping people in the area build a more stable life.