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Updated: 2018-07-24 11:45:00

Channeling capital to People with meritorious services to the Revolution

(VBSP News) The local budget entrusted through VBSP of Hau Giang Province to provide loans for economic development for families with merit has been increasingly effective.

Thanks to loans, many households in Hau Giang have better conditions for fruit garden management, giving them good income.

Commenting on policy credit  program to People with meritorious services to the Revolution, Mr. Nguyen Van Vu - Head of Credit Department of VBSP in Hau Giang Province said that after borrowing money, borrowers has use capital for effective business models such as gardening, husbandry, cash crops, small business. Households pay interest monthly and deposit savings, pay principal in installments. Collected capital is used to lend to other households. Every month, after paying interest to VBSP as agreed, borrowing households deposit an amount of savings equal to the amount needed for paying principal so that they can afford to pay their principal at due date.

One of the families who use loans effectively is Ms. Duong Kim Lieu in hamlet 1, Vi Thanh commune, Vi Thuy district, she excitedly said "It is a very meaningful program. My family borrowed VND 25 million. Thanks to the loan, we bought fertilizer to fertilize pepper and planted 200 new grapefruit trees. Currently, pomelos are growing well and we recently harvested over 500kg, getting VND 40 million so my family is happy. From the loan, my family life has been improved and we can afford to pay debt and deposit savings at VBSP”.

Since borrowing more money from the program, Ms. Tran Thi Chinh's family in hamlet 6, Vi Thuy commune, Vi Thuy district have better income. She said "In 2015, I saw in the internet the model of raising pheasants for high income. After learning, we bought a pair of parent pheasant and was successful in raising it. In 2017, we got a loan from the program for people with merits of VBSP to renovate our garden, buy more pheasant and egg incubators. From 16 pairs of brood pheasants, we now have 50 mother pheasants , on average our family have 700 to 1,000 pheasant eggs for incubation each month. After deducting expenses, we earn VND 15 million or more each month".

Phung Hiep District is one of the area with a large number of families with meritorious services to the revolution. Up to now, total borrowers with meritorious services to the revolution in the district are 112 households with a total loan outstandings of VND 3.4 billion. This source of capital helps many households to grow up. Ms. Nguyen Thi Khen, from My Chanh Hamlet, Hiep Hung Commune, Phung Hiep District, said: "My family planted 500 Annona muricata trees. Thanks to the loan we has money to buy fertilizer. It is a pleasure to haverst the first crop of about VND 40 million. It must be confirmed that this lending program is really practical and also expresses the interest of all levels and authorities to the revolutionary families. "

Pointing to the newly built fence, Ms. Pham Thi Khanh at My Chanh Hamlet, Hiep Hung Commune said: "The money to build the fence is from selling our fruits, our savings and partly from the Lending program to people with merits. With the loan, we bought additional agricultural supplies to take care of the existing crops so that the fruit grows well, thus, we have more money to cover the cost of living and surplus to make fences. " .

According to localities, funding for this program is still limited but many households with merits are waiting to borrow. Ms. Vo Thi Khon - Head of My Chanh Hamlet, Hiep Hung Commune said: “There are 29 households with merits in the hamlet but only 5 households manage to borrow from the program. Most borrowers use capital efficiently. Therefore, in order to support the remaining families with loans for production development, local authorities should consider providing additional funding for lending”

Mr. Nguyen Thanh Trieu - Director of VBSP in Hau Giang Province, said: In order to further promote effectiveness of the policy on lending to support production for people with meritorious services to the revolution, the branch has proposed to the local authorities to transfer budget capital in 2018 through VBSP to supplement funding. At the same time, consider the medium-term capital plan for the period 2018-2020, because according to current surveys, the demand for loans of policy households is very large. In addition, it is recommended that the provincial DOLISA instructs subordinate units to regularly review and have full and accurate data on the number of households and the amount of loan demand for synthesizing and reporting to the Provincial People's Committee for consideration and direct  implementation. Local governments, associations and trustees regularly review implementation of the program for families with meritorious services to the revolution to early prevent errors and manifestations.

 

In Hau Giang province, there are more than 8,000 households with meritorious services to the Revolution. Preferential loans are only 322 loans with the amount of over VND 9.2 billion.

 

Thanh Xoan

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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

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Lending to disadvantaged students 6,6%/year

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

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