Escaping poverty thanks to policy credit

Thanks to preferential credit, many poor households, near-poor households and other target groups in Pleiku city (Gia Lai Province) have had opportunities to extend production and improve their lives.

The poor in Pleiku city took loans to raise goats

In Wau village, Chu A commune, Pleiku city, many poor households got out of poverty and raised their income thanks to policy credit. A  typical example -Ms. Thom, aBa Na ethnic said that in 2019, her family took a loan of VND 30 million from VBSP to raise cows. After 3 years, her herd of cows increased by 4 cows. In 2022, she sold 3 cows to pay off her debt, then borrowed another VND 50 million to buy more cows. Currently, her family has escaped poverty and had a stable source of income.

Mr. Chu – a poor household in Wau village shared: his family was in the list of poor households in Chu A commune many years ago. Luckily, he got a preferential loan of VND 30 million. He improved 2 acres of land to grow vegetables and raise cattle. By 2023, he has paid off his loan and borrowed an additional of VND 50 million to expand production. Thanks to this credit, his income has reached about VND 80 million per year.

Ksor Khien, leader of a Savings and Credit Group in Wau village, said that mass organizations and VBSP helped members of group to access preferential credit to extend production. After having money, they focused on their work to get high efficiency and good income.

It is expected that by the end of 2023, the total outstanding loan of policy credit programs in Pleiku city would be VND 360 billion with 9,000 active borrowers.

Nguyen Trieu Quang, Deputy Director of VBSP Gia Lai branch said that the branch tried to deploy all preferential credit programs to 100% of the poor, near-poor and post-poor households. Besides, the branch also created conditions for the target groups to access to suitable credit programs.

Hoai Nam - Xuan Huy