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Updated: 2024-03-20 13:48:03

Accompanying farmers for poverty reduction

With the source of preferential credit from VBSP Thuan Chau district (Son La), many farmers have opportunities to expand their production scale. Policy credit plays an important role in helping people to overcome difficulties and stabilize their lives.


VBSP Thuan Chau district’s officer guides the loan process for local people

Currently, VBSP Thuan Chau District has implement 18 policy credit programs with a total outstanding loan of over 784 billion VND for 15,895 borrowers. In 2023, policy credit helped 4,294 customers who are poor households and other policy beneficiaries borrow money to invest in production and business. In particular, households have invested in raising more than 39,000 cattle and poultry; planting over 194 hectares of coffee and tea trees; creating jobs for 476 workers; building 792 works of safe water and 792 projects of rural environmental sanitation; building new houses..., contributing to reducing the poverty rate in 2023 to 23.77% (decrease by 7.2% compared to 2022); the rate of near-poor households was 12.94%, (decrease by 3.26% compared to 2022).

Through 147 Savings and Credit groups, 4,897 members have been able to access to preferential loans with total outstanding loans of over VND 192 billion. Helping group members access to policy credit has contributed to limiting loan sharking, creating conditions for economic development. Many models of animal husbandry, fruit growing and generalization has brought high income. In which, 1,731 households have their income from 50 - 100 million VND/year; 988 households earn nearly 200 million VND/year; 156 households earn 300 million VND and 10 households earn from 400 million VND to 800 million VND/year.


Many households in Thuan Chau district have conditions for economic development thanks to preferential loans

Preferential credit has contributed to changing the thought of local people. For example, Mr. Lo Van Toan's family in Heo Trai village, Chieng Pha commune. In 2015, through the Commune Farmers' Association, his family was able to borrow VND 10 million to buy coffee seeds. In 2021, his family got out of poverty. In June 2023, he continued to be facilitated with loans of VND 100 million. Mr. Toan excitedly said that thanks to policy loans, his family had chance for economic development. With more than 1 hectare of coffee in the last crop, his family earned a profit of VND 40 million. To increase income, his family continues to invest in another 1 hectare of coffee trees this year.

Mr. Luong Van Thuong's family (Bia village, Phong Lang commune) was a poor household in the village. In 2023, his family accessed to a policy loan of VND 100 million for livestock farming. Currently, his family has had 6 bulls, 6 pigs and takes care of 5,000m² of coffee. Mr. Thuong has also opened a shop to repair motorbike, so his family’s quality of life has been improved on the daily basis.

Mr. Lo Van Hoa - Head of the Savings and Credit Group of Tham village shared: Currently, the group has 54 loan members, with a total outstanding debt of over VND 3.4 billion. Preferential loans from VBSP plays an important role to help local people in production development and income improvement.

VBSP continues to advise on the allocation, adjustment, and disbursement of capital for programs to ensure publicity, transparency, timeliness and effectiveness; develop plans and perform well the inspection and supervision before, during and after lending to borrower households; update and analyze overdue debt for each household to resolve in groups; applying digital technology in managing trust activities, savings and credit group activities; helping people easily access policy sources, contributing to production development, sustainable poverty reduction and social security.

Tran Hien



Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year