Get out of poverty thanks to small credit

VBSP coordinated with local authority and mass organizations in Thanh Binh commune, Cho Gao district, Tien Giang province have helped many families escape from poverty and get better life.

Welcoming us in a spacious house of gratitude, Mr. Nguyen Van Hoa living in No.92, Binh Long hamlet, related  hearteningly his story of escaping poverty and getting rich. In his story, he repeated many times: “VBSP’s capital source helped me get out of poverty”.

 Being a poor household, he worked as a hired labor, each day he earne about VND 80.000. In 2005, VBSP expanded the lending program for farmers to develop their production. With the supports and enthusiastic helps of local government, Mr. Hoa borrowed VND 10 million under the Poverty Reduction funds. Adding with his own cumulative capital, he purchased two beeves and invested in growing corn (maize) and vegetables on an area of 1.500 square meters.  

 Beeves feeding is on the rotation, when beeves grew up, he sold them and purchased another pair of beeves for feeding. He paid the loan from year to year until he got out of debt. Besides raising beeves, the amount of profit earning from growing corn and vegetables was enough to ensure his family life.

 Mr. Phung Van Long’s family living in Binh Long hamlet was also a poor household, previously he had productive land but lack of capital resulting to many difficulties in his production. Everyday he worked as a hired labor, afterwards, thanks to the poverty reduction loans, he cultivated on an area of 5.000 square meters and harvested three rice crops per year. Up to now, he has a vast house with sufficient facilities. That’s the result of laboriousness and diligence in company with the help of local authorities and VBSP’s capital source.

 Mr. Nguyen Van Nhan – Chairman of Binh Long hamlet said: Since 2007, knowing difficult circumstances of Mr. Nguyen Van Hoa’s family, local authorities have been mobilizing VND 25 million from maecenas along with VND 5 million of his family to help him build a house of gratitude worth VND 30 million. 

Talking to us, Mr. Le Anh Thuy – Vice Chairman of the People’s Committee at Thanh Binh commune said: “Early in the year 2009, the rate of poor households of the commune was 6.74%. During the construction process of cultural commune and plan of escaping poverty, at the end of the year 2009, the number of households out of poverty in the commune was 30 households thanks to rotating loan capital of Women’s Union and capital source of poverty reduction project”. Mr. Thuy also said, the proper implementation of the Party’s lines, the concern of government and the efforts of households are the know-how leading to the success of poverty reduction assignment. In 2010, we strive for reducing the rate of poor households to below 5%.