Timely disbursement of funds

Many years ago, the economic conditions of Mr. Dinh Van Son's family in Dak Ru commune, Dak R'lap district faced many difficulties. More than 1 hectare of coffee had no capital to reinvest, so the productivity and quality were poor.

In December 2021, Mr. Son's family received a loan from the program for production and business households in difficult areas of the Vietnam Bank for Social Policies (VBSP). With the capital, his family invested in barns and raised goats in the garden.

From the initial 4 breeding goats, after nearly 3 years, the herd has grown to more than 54 goats. According to Mr. Son's calculations, if he sold the herd of meat goats in the garden, his family would earn more than 120 million VND.

“In difficult times, preferential capital has helped us develop our economy more firmly. If the livestock situation is favorable as it is now, in the near future, our family economy will be much more stable,” Mr. Son shared.

In 2021, Ms. Le Thi Huong's family in Dak Wer commune, Dak R'lap district received a loan from the Vietnam Bank for Social Policies to invest in farming and livestock farming. Currently, her family is focusing on taking care of cows, developing short-term crops to serve their lives and increase their income.

From the initial 2 breeding cows, up to now, her barn always maintains over 20 cows. Taking advantage of the manure, she invested in growing more short-term crops to increase income.

“When the cows are not ready to be sold, my family has income from short-term crops. With the motto of “taking short-term to support long-term”, every month the family ensures living expenses and pays bank interest,” said Ms. Huong.

Facilitate people's access to capital

According to the Dak R'lap District Social Policy Bank Transaction Office, along with the central capital and the provincial Social Policy Bank, the locality has paid attention to the district budget capital for entrusted lending. Up to now, the total outstanding loan balance in the district is nearly 600 billion VND, with over 11,000 households receiving loans.

Every year, based on the allocated capital, the unit reviews and synthesizes the loan needs of each household. For families that are eligible, the Social Policy Bank Transaction Office facilitates procedures and loan disbursement. Through this capital source, many poor households and other policy beneficiaries have more opportunities to invest and develop the economy.

Director of the Transaction Office of the People's Credit Fund of Dak R'lap District, Mai Van Nam, said that every year, the unit strictly carries out the stages of reviewing, borrowing, and checking the use of loans.

The bank cooperates with 4 entrusted organizations, including: farmers' association, women's association, veterans' association, youth union to inspect and supervise the process before, during and after lending capital. Local authorities at all levels participate in reviewing, evaluating and facilitating capital to reach the right beneficiaries.

“In addition to coordinating with political and social organizations and local authorities, we have increased the number of staff going to the grassroots level to strengthen supervision. Violations during the borrowing process will be detected and promptly corrected,” Mr. Nam emphasized.

According to Mr. Nam, the Transaction Office of the Social Policy Bank always promotes administrative reform in the direction of "making documents at home, disbursing at the commune" to serve borrowers.

“We regularly reform our working methods to make it easier for people to access capital. It only takes 3 to 5 days for people to receive loans from the Social Policy Bank,” Mr. Nam informed.