Getting out of poverty thanks to preferential credit in Quang Tri

Thanks to accessing preferential credit from VBSP, thousands of households and ethnic minority households in Quang Tri province have had the opportunity to invest capital in production and business, gradually getting out of poverty.

VBSP Dakrong District’s officials advise ethnic minority households to take preferential loans for economic development

Many households in the mountainous district of Dakrong, where most ethnic minorities settle, have gotten out of poverty thanks to preferential loans from the State. Mr. Ho Van Lau's family (in Ta Rut commune, Dakrong district) was one of the ethnic minority households that received preferential loans from VBSP for economic development. Mr. Lau invested in planting 3 hectares of cajuput trees and developed cow husbandry. Currently, his family has now gotten out of poverty. His family has an income of about VND 10 million each month from planted forests and livestock. Four ethnic minority households in Ta Rut commune, Dakrong district also escaped poverty by the end of 2023 thanks to effective policy credit.

Mr. Ho Sy Hoc's family (in Ba Nang commune, Dakrong district) was one of many households that received a loan from the National Target Program on socio-economic development in ethnic minority and mountainous areas. His family was poor. Previously, Mr. Hoc only did farming, which was not economically effective. In early 2023, he was disbursed a loan of VND 90 million by VBSP Dakrong district. With this preferential credit, he bought two cows and planted 2 hectares of cajuput trees. To date, he has grown the herd of cows to nearly ten units. He has been one of four households in Ba Nang commune to get out of poverty by the end of 2023.

Mr. Ho Van My, Chairman of Ba Nang Commune People's Committee, said: Ba Nang was known as a particularly difficult commune, in recent years, the Party and State have always paid special attention with many great preferential policies, especially effective preferential credit from VBSP. With preferential loans, ethnic minorities invested in planting acacia melaleuca forests, raising cows and goats, improving hill land into rice fields, hybrid corn, and exporting labor. Thanks to this preferential credit source, many families have conditions to expand production investment, have stable income, and eliminate poverty.

According to Mr. Ngo Van Bao - Director of VBSP Dakrong District, with the motto "Understanding the people's hearts, serving wholeheartedly", VBSP Dakrong District’s officials went to the villages and hamlets to propagate policies of the Party and State on social policy credit, helping people boldly take loans for production and business, economic development. People's awareness of social policy credit policies is increasingly improving. People are more aware of their loans, using capital for the right purpose and repaying debt on time. By the end of 2023, Dakrong district have had 28 more households getting out of poverty.

By direct and entrusted lending through mass organizations, VBSP Quang Tri Provincial Branch has successfully implemented 18 policy credit programs such as: lending to poor, near-poor, post-poor households, lending for job creation, safe water and rural environmental sanitation, loans for disadvantaged students, labor export, production development for ethnic minority households with special difficulties, socio-economic development ethnic minority and mountainous areas... In 2023, the total outstanding debt of VBSP Quang Tri Branch reached VND 4,768 billion, an increase of VND 886 billion compared to 2022, a growth rate of 22.8%.

Mr. Tran Duc Xuan Huong - Director of VBSP Provincial Branch said: In 2023, policy credit has helped nearly 30,000 customers who were poor households and other policy beneficiaries in the province receive loans, contributing to helping more than 6,160 workers have jobs; 830 households in ethnic minority and mountainous areas received preferential loans to change jobs and build housing; 1,500 households living in disadvantaged areas have access to policy credit loans; more than 17,000 works of safe water and rural environmental sanitation; 420 households received loans to build and repair houses.

According to Mr. Hoang Nam - Vice Chairman of Quang Tri Provincial People's Committee, social policy credit has contributed to stabilizing and developing the economy, ensuring social security, and well implementing tasks of national target programs for sustainable poverty reduction; building new rural areas and socio-economic development in ethnic minority and mountainous areas of Quang Tri province. Through practical implementation, many policy beneficiaries have gotten out of poverty and stabilized their lives thanks to preferential policy credit.

Nguyen Linh