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Updated: 2019-05-21 09:33:21

Effectiveness from job creation loans

Over the past years, Thuan An town-based transaction office of the Vietnam Bank for Social Policies (VBSP) coordinated with relevant units to effectively implement loan programs, helping the local people get access to preferential loans. This created favorable conditions for the local people to do home based business, contributing to improving their lives.

Timely support

Le Mong Long, the owner of a wooden chopping-board making facility in Lai Thieu ward’s Hoa Long quarter in Thuan An town last year got VND50million in loan from the town’s VBSP branch to buy more materials for production.

Le Mong Long (the first from the right), the owner of a wooden chopping-board making facility in Lai Thieu ward feels excited because of getting loans for production

As of now, his facility has not only used the loan effectively, but also created regular jobs for 4 workers with stable income. On average, he can earn more than VND15million from the facility every month. He also wanted to get more loans for production expansion.

Or, Le Kim Khoi and his wife residing in Vinh Phu ward’s Trung quarter in Thuan An town also got VND100million from the town’s VBSP branch to buy machines and equipment for making wooden shoes at home.

Currently, his facility generates stable jobs for 4 laborers with the average income of between VND4million and VND5million per person per month. It is known that every month, his facility supplies 2 agents in HCM city with 4,000-5,000 pairs of wooden shoes. On average, he and his wife can secure the monthly income of between VND10million and VND12million from the facility.

Another motivation to rise up

As surveyed, most households effectively used loans from the town’s VBSP transaction office over the past time. Particularly, they took fruits from models breeding fish, making wooden chopping-boards and shoes…Along with production, they created jobs with stable income for laborers.

Noticeably, the amount of loan disbursed from the town’s VBSP transaction office has been increasing in recent years. In 2017, the branch disbursed more than VND70billion in loan for 1,787 households. The figure was more than VND98.8billion for 2,743 households in 2018 and there were 687 households getting more than VND30billion in loan in the first four months of 2019. This contributed to promoting the local home-based business.

Possibly seeing, thanks to getting access to job creation loans, the local people have had another motivation for production expansion, thereby contributing to well tapping the local advantages for economic development.

Dong Quoc Khai, Director of the town’s VBSP transaction office said that the unit’s total outstanding loans for job creation have reached VND186.7billion with 3,912 borrowers.

Reported by Van Tien-Translated by K.T

PHOTO ARTICLES

LENDING INTEREST RATE

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

Students

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
Others...

DEPOSIT INTEREST RATE

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