Ms. Luu Thi Tuyen's family from Khuoi Vai village, Ngoc Linh Commune, Vi Xuyen District use to live in particularly difficult circumstances. She worked hard alone in the fields to feed her three children. For many years, Tuyen's family has lived in a makeshift house with wooden walls and corrugated iron roof.
In early 2022, informed by village officials that there was a preferential credit package to support housing loans under Resolution No.11, Tuyen applied for a loan and it was approved.
In September 2022, Tuyen's family was disbursed the amount of 40 million VND, plus savings and loans from relatives, and with this, she started to build a new house. In early 2023, the standard house was completed with an area of over 100 square metres.
Tuyen happily said: “Though the preferential loan from the Bank was not enough to cover the entire construction cost, it was the motivation for me to decide to build a new house. Having a solidly built house, now we don't have to worry about food or accommodation, and can work to pay off the bank debt.”
Also in Ngoc Linh Commune, Mr Dang Van Hien’s family in Ngoc Thuong village was approved for a preferential credit loan from the Bank for Social Policies in order to develop cattle breeding. In the past, the family raised buffaloes, but due to a lack of capital, they had to raise them separately. Therefore, in 2022, he registered and got a loan of 50 million VND to raise cattle. Immediately after being disbursed, his family bought two adult breeding buffaloes.
After more than a year, the two breeding buffaloes gave birth. Hien said: “Thanks to the preferential loans, my family now has the capital to develop cattle. With 4 existing buffaloes, my family can not only repay the bank loan but also have buffalo breeds for long-term husbandry.”
At this point, Mr. Hien's family also wants to continue with loans to renovate 2,000m2 of fish ponds, and at the same time building a system of barns to raise wild boars.
Like Tuyen and Hien's family, there are thousands of poor households and businesses in Ha Giang that are eligible to borrow loans under Resolution No.11 to improve their lives, invest in production and business, and overcome difficulties after the COVID-19 pandemic.
Mr. Le Tuan Quang, Director of the Vietnam Bank for Social Policy in Ha Giang province, said that the source of preferential credit policy for loans for socio-economic recovery under Resolution No.11 has been implemented since the beginning of 2022.
Determining it as a “leverage” to support needy households, businesses and cooperatives to restore production and business, overcome difficulties after the pandemic, the bank has closely followed the guidance of the Government, quickly bringing preferential credit capital to the people and promoting communications on lending policies to all classes of people in the province.
The Bank has directed transaction offices to closely coordinate with local authorities to conduct a review of borrowers on the basis of reviewing and registering the loan demand with the Government; quickly implementing steps to complete documents to disburse timely, ensuring efficiency and right subjects and helping the poor and policy beneficiaries to access capital quickly.
As a result, after more than a year of implementation, by May 2023, the Vietnam Bank for Social Policies in Ha Giang has disbursed over 277 billion VND to 3,900 customers.
Of which, the loan programme to support job creation, maintenance and expansion reached 160 billion VND, 2,560 customers; social housing loan programme under Decree No.100/2015/ND-CP received more than 67.2 billion VND, 156 customers; loan programme for students to buy computers, online learning equipment and cover learning costs made loans reached more than 2.3 billion VND with 210 customers, and so on.
In the coming time, the bank will continue to coordinate with Party committees, local authorities and mass organisations to deploy credit sources under Resolution No.11, especially credit programmes implemented according to the national target programme for socio-economic development in ethnic minority and mountainous areas.
In addition, the bank will also closely coordinate with entrusted organisations and associations to promote inspection and supervision before and after lending, ensuring the effective implementation of the policy.
