News & Events
Escape from poverty thanks to VBSP’s loans
(VBSP News) Mr. Giang A Sinh's family in Che Tao commune escaped from poverty thanks to VBSP’s loans.
Che Tao commune in Mu Cang Chai district, is the most remote and disadvantaged mountainous commune of Yen Bai province. Recent investment in infrastructure has shortened the travel time from the district center to this commune. Commodity economy in combination with the Party's and Government's policy credit has been transforming people's awareness here while The Directive No. 40 further strengthened the Party’s supervision on social policy credit for sustainable poverty reduction. Che Tao commune’s Party Committee and People's Committee consider this an important political task and a responsibility, so the commune drastically directed policy credit to become more and more effective.
Mr. Giang A Sinh's family invested in buying cows, barn and grass
With a loan of VND 15 million from VBSP, Mr. Giang A Sinh's family in this commune spent VND 10 million to buy a cow and VND 5 million to invest in barn and grass. Cows were raised well, reproducing one, two, three and then four calves. During peak time, Mr. Sinh's family had 15 cows. He sold 1/3 of the herd to repay the bank loan and some family’s needs and kept the rest for raising. Thanks to the Government's preferential capital, from a poor household, Mr. Giang A Sinh's family has escaped from persistent poverty.
“I am a leader of a Savings and Credit Group. For the others to know how to use the loans as effectively as I do, they have to learn how to raise cattle, plant grass and build cages from me. I watch over the group members, if anyone borrows a loan, he must be able to get better” Mr. Giang A Sinh said.
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- VBSP's Preferential Loan Scheme for Social Housing
- Journey of Poverty Reduction in Lang Son
- Leveraging Sustainable Livelihoods
- Quang Nam Widely Expands Policy Credit
- Policy credit as driving force for local economic development
- Conditions and preferential policies for loans to buy social housing in 2025
- DONG HOA - PHU HOA: Preliminary review of policy credit activities in the first quarter of 2025
- District 12 eradicates poverty with effective social policy credit programs
- How policy credit fuelled Ho Chi Minh City’s 50-year rise
- Enhance training on Cyber Safety and Security for VBSP’s customers
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