Binh Son effectively implements policy credit sources

Implementing Directive No. 40-CT/TW dated November 22, 2014 of the Central Party Secretariat on strengthening the Party's leadership over social policy credit and Conclusion No. 06-KL/TW dated June 10, 2021 of the Secretariat on continuing to implement Directive No. 40-CT/TW, Binh Son district (Quang Ngai) has actively deployed many tasks and solutions in social policy credit activities; making an important contribution to national target programs on sustainable poverty reduction, human resource development, social security, political stability and local socio-economic development. Thousands of policy beneficiaries in the district access preferential loans to invest in production development, escape poverty and stabilize their lives.

Mr. Pham Quoc Vuong’s facility of rice paper

Mr. Pham Quoc Vuong's rice paper production facility (in Tra Lam village, Binh Khuong commune) is one of the members of the Binh Son District Creative Startup Club specializing in producing rice paper and he luckily had opportunity to access to job creation loans from VBSP. Through the Commune Youth Union, Mr. Vuong's facility received a loan of VND 100 million from VBSP to support his start-up. He bought an automatic rice paper making machine and purchased raw materials to expand the production model. His facility always creates stable jobs for about 6 local workers.

Mr. Vo Hong Thang - Secretary of the Party Committee of Binh Khuong Commune said that up to now, the policy credit loan capital in the commune has reached an outstanding balance of VND 34 billion, contributing to the construction of the new rural area in ​​the commune. In the coming time, Binh Khuong will continue to direct the branches and mass organizations to well coordinate with VBSP in using preferential credit capital, promoting local advantages, creating favorable conditions for many young people with local start-up ideas, contributing to the development of Binh Khuong commune.

In the period 2014 - 2024, the district budget has transferred over VND 16 billion to VBSP Binh Son district (15 times higher than before Directive No. 40-CT/TW issued) to lend to poor households and other policy beneficiaries to solve employment problems. Up to now, the total capital managed by the district's VBSP has reached VND 727 billion, an increase of VND 59 billion compared to 2014, with an average growth rate of over 10%/year. In the past 10 years, VBSP Binh Son district has disbursed loans to over 37,000 poor households, near-poor households and other policy beneficiaries with an amount of VND 1,395 billion; bringing the total outstanding loans for policy credit programs now to VND 725 billion, an increase of VND 457 billion compared to 2014 with over 14,330 active borrowers. VBSP Binh Son district has organized a network of 360 Savings and Credit Groups operating widely in all villages and residential groups in the commune and town; with 22 Transaction Points in communes and towns and organized transactions on a fixed day every month with the aim of increasing borrowers' access to preferential credit services and implementing democracy and transparency. Social policy credit activities in Binh Son have continuously developed, credit quality has been increasingly improved, contributing to economic development, job creation, people's lives improvement, the poverty rate reduction and social security in the locality. It can be seen that social policy credit has made an important contribution to effectively implementing the policies, goals and tasks of the Party and State on sustainable poverty reduction, job creation, human resource development, social security and new rural construction in the locality.

Truc Huong