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Updated: 2024-05-10 16:12:51

Getting out of poverty thanks to preferential policy credit

Thanks to policy credit, in recent times, ethnic minorities in Nam Dong district (Thua Thien Hue) have boldly developed their household economy, constantly rising out of poverty and stabilizing their lives.


Mr. Tran Van Doi's family rose out of poverty thanks to policy credit

Visiting the Mr. Tran Van Doi's combined model of crop and livestock farming (Co Tu ethnic group, A Giai village, Thuong Long commune), Mr. Doi said: In addition to the VND 40 million supported by the District Farmers' Association, his family was loaned VND 100 million by VBSP Nam Dong District under the job creation loan program. With the spacious garden, Mr. Doi planted 1 hectare of green-skinned grapefruit with more than 90 roots. After 6 years, the green-skinned grapefruit tree grew quickly with good disease resistance and was suitable for local soil conditions. After that, Mr. Doi boldly bought 3 more breeding cows and more than 100 chickens to raise for meat. Currently, the average profit from the combined farming model reaches nearly VND 100 million each year.

Mr. Ho Van Hoi's family (in A Gon village, Thuong Long commune) was formerly a poor household. Mr. Hoi said: Since knowing the preferential loan source of the district VBSP, he borrowed VND 50 million from the loan source of the socio-economic development program for ethnic minority and mountainous areas in the period 2021 - 2025 to build barns and raise breeding cows. Since then, his family has had a stable income and got out of poverty.

In addition, many economic models have become strengths of localities thanks to VBSP’s loans. One of the above models was granted a "Collective Trademark" certificate by the Intellectual Property Department - Ministry of Science and Technology, which is Nam Dong Orange. Implementing Directive No. 40-CT/TW every year, local budget sources are transferred to VBSP Nam Dong District to prioritize lending for investment and care of orange trees, cinnamon trees and cows. To date, the credit source to implement the above project is VND 6,250 million with more than 50 borrowers.

VBSP Nam Dong District is implementing 16 policy credit programs as designated by the Government, with a total outstanding loans of VND 311,871 million and more than 5,200 active borrowers. Of these, nearly 2,500 customers are ethnic minority households who are enjoying most of the credit programs at VBSP with total outstanding loans of VND 154,225 million, accounting for 49.4% of the total outstanding loans.

Mr. Hoang Le Ngoc Truong - Deputy Director of VBSP Nam Dong District said: Through policy credit, ethnic minority households in the district have boldly done business, gradually got out of poverty and enriched themselves in their own homeland. In particular, social policies credit have helped ethnic minority people gradually increase their position in society. The quality of social policy credit for ethnic minorities has had many positive changes, contributing to preserving loan sources.

Bach Chau



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