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Updated: 2020-04-07 16:06:35

Growing cinnamon and raising buffaloes, Yen Bai farmers escape from poverty

(VBSP News) In recent years, the Farmers Association at all levels in Yen Bai province has well implemented the entrustment of preferential loans from VBSP to support its members and farmers in developing production and building efficient business models.


Model of raising buffaloes and cows invested by preferential loans has helped members of Yen Bai Farmers’ Association increasing their incomes 

Poor households make good progress

Mr. Mai Van Tinh of Khang Chinh village, Hung Thinh commune, Tran Yen district, was one of the disadvantaged households in the commune. In early 2016, through the Farmers' Association, Mr. Tinh borrowed VND 50 million from VBSP. Having capital, Mr. Tinh invested in developing a complex  model, planting 2ha of cinnamon, 4ha of citrus fruit trees, renovating 1,000m2 of fish ponds and 150m2 of turtles ponds. From the knowledge gained through training courses on animal husbandry and with proper application of epidemic sanitation procedures, up to now, the family's annual income reaches nearly 200 million VND / year.

Many years ago, the family of Giang A Ho in Sang Pao village, Xa Ho commune was loaned VND 30 million by VBSP in the Temporal district under the poor program to develop livestock. With this amount of money, Ho bought breeding buffaloes to breed and then gave birth to 2 buffaloes. He sold and paid off all the loans to VBSP.

Realizing the clear effect from this capital, in 2019, Mr. Giang A Ho boldly registered to implement the project of breeding support of the province and VBSP continued to lend 50 million VND. From this money plus the savings of his family, he bought 8 buffaloes and cows to raise. Up to now, the family's buffaloes and cows have grown well and brought about high economic efficiency. By the end of 2019, Giang A Ho's family has escaped from poor households.

In order to help people have more conditions to rise up and reduce poverty, in recent years, Xa Ho commune has always cooperated closely with VBSP in Tram Tau district to entrust people to access preferential loans from the State. . Up to now, the total outstanding debt in the commune is nearly VND 16 billion. Through loans from VBSP so far, Xa Ho commune has had 473 poor and near-poor households have access to preferential loans from the State.

Mr. Cho A Pao - Former Party Committee Secretary of Xa Ho commune, said: For poor households who have been allowed to borrow up to VND 100 million, they have created jobs by making soils for production, buying cattle and livestock which are very effective. There are households who can even buy production land for long-term production. There are households that invested in expanding their animal husbandry from VBSP loans. The loans help many households in the commune escape poverty.

Effective loan entrustment

Up to now, the Yen Bai Farmers’ Association is managing a total outstanding loan of VND 770 billion from the collaboration program with VBSP. Active borrowers are 23,500 farmer households in 677 savings and loan groups. To date, all Farmers' Association at district level and 164 out of 180 communal level have signed joint documents with VBSP.

Many Farmers' Association at grassroots levels have done well in entrustment activities such as: Farmers Association of Luc Yen district which has 3,796 active borrowers and more than VND 112 billion loan outstanding managed by 86 Savings and Credit Groups; Farmer Association of Mu Cang Chai district currently manages more than VND 53 billion of entrusted loans from VBSP with 49 Savings and Credit Groups, and 1,731 turns of borrowing households.

Mr. Giang A Cau - Chairman of Farmers’ Association of Yen Bai province affirmed: Policy credit has contributed to supporting farmers of Yen Bai to change the structure of plants and animals and apply advanced techniques into production.

Ha Thu



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