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Updated: 2024-03-07 14:52:03

Getting out of policy thanks to preferential policy credit

Currently, in Ca Mau province, policy credit has covered 100% of communes, wards, towns and 100% of hamlets with over 2,600 Savings and Credit groups, promptly transferring policy credit to the poor and other policy beneficiaries, helping many poor households and ethnic minority households in localities to gradually stabilize their lives.


Having received a loan from VBSP, Mr. To Minh Thong (in Hamlet 17, Nguyen Phich Commune) boldly tested the model of raising beef cattle, earning a profit of VND 40-50 million each year

In recent years, entrusted mass organizations in the province have done a good job entrusting loans from VBSP, playing an important role in bringing preferential loans from the State to the poor households and other policy subjects. Therefore, many households have had money to invest in farming and animal husbandry, gradually rising out of sustainable poverty.

Mr. Nguyen Thanh Dong, Deputy Director of VBSP Ca Mau Branch said: In 2023, social policy credit always receives special attention from government at all levels in implementation, especially for the poor. Currently, VBSP's loan credit is transferred to 100% of communes, wards and towns in order to timely serve and create conditions for the poor and other policy beneficiaries to access to preferential credit.

Thanks to preferential credit, members of entrusted mass organizations in the province have the conditions to invest in farming and animal husbandry, increasing their income. To date, VBSP U Minh District has deployed loans with an amount of more than VND 460 billion.

With credit borrowing from VBSP, Mr. Nguyen Huynh (in hamlet 17, Nguyen Phich commune), invested in a mud-free eel farming model. He shared: "With the support of a loan from the district VBSP of VND 40 million, and my accumulated money of VND 20 million, I invested in raising mud-free eels with over 1,000 units. Currently, eels are growing well. I hope to replicate this model and create more Anguilla australis farming models. I also hope that district VBSP will support me with additional capital for my family’s economic development."

Taking advantage of the loan from VBSP U Minh district, Mr. To Minh Thong (in hamlet 17, Nguyen Phich commune), boldly tested the cow raising model. Thanks to his hard working, Mr. Thong has been able to maintain this model over the past 6 years. Mr. Thong said: “The members of the Savings and Credit Group and VBSP supported me as well, promptly disbursing a loan of VND 80 million for me to rebuild the herd. Currently, by maintaining 8 beef cows and 3 breeding cows, my family earns a profit of about VND 40 - 50 million each year."

In 2023, the total loan revenue of VBSP Ca Mau Provincial Branch reached VND 1,082 billion with more than 32,800 customers receiving loans. In particular, loan revenue to subjects belonging to 3 National Target Programs on building New Rural Areas, sustainable poverty reduction and socio-economic development of ethnic minority and mountainous areas in the period 2021 - 2030 reached VND 513 billion (accounting for 47% of loan revenue).

“VBSP's activities in the province have contributed to prevent usury in rural areas, helping people increase their income and significantly improve their quality of life; then, contributing to poverty reduction, ensuring social security, and building new rural areas. VBSP also effectively implements the Party and State's policies, "Joining hands for the poor - leaving no one behind" with specific and practical actions through the transfer of policy credit to local people; contributing to promoting the socio-economic development of the province, the rate of poor and near-poor households gradually decreases through each period", Mr. Nguyen Thanh Dong, Deputy Director of VBSP Ca Mau Branch added.

To further improve the effectiveness of the poverty reduction program, in the coming time, Ca Mau province will continue to focus on prioritizing resources for ethnic minority areas; focus on propagandizing, raising awareness to change people's thinking, helping them organize their own production and stabilize their lives.

Hoang Vu



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


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


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