Highland district - Meo Vac improves the quality of Savings and Credit Group activities

Recently, accompanying VBSP Meo Vac district (Ha Giang), the Savings and Credit Group (SCG) has brought policy credit to the poor, near-poor households and other policy beneficiaries, contributing to improving the quality of life and developing the family economy from policy credit sources.

A meeting of the SCG in Ha Ia village, Can Chu Phin commune

Currently, there are 240 active SCGs in Meo Vac district. In recent times, VBSP Meo Vac district and entrusted mass organizations have applied many solutions to improve the quality of SCG activities, for example, assigning credit officers monitoring the area and association officials at all levels attend activities at SCG to fully implement credit policies, help group members proactively arrange activity time, regularly innovate the content and methods of activities, strengthen supervision as well as support each other in production and life; honor group members that implement well the regulations, criticize group members who not implement well in repaying principle and interest, remind members who rarely participate in activities, etc.

In addition, to improve the quality of activities of SCG, VBSP Meo Vac district has coordinated with the People's Committees and entrusted mass organizations to regularly conduct training and improve capacity of management and administration. In 2023, VBSP Meo Vac district organized 18 training classes for 529 people who are officers of the Commune Poverty Reduction Committee, leaders of SCGs, village heads to supplement trust operations, management knowledge and working skills, contributing to improving the quality of social policy credit in the local.

By December 31, 2023, the total mobilization of savings has reached over VND 34.4 billion; in which, over VND 6.7 billion through SCG, an increase of VND 876 million compared to the beginning of 2023. Total outstanding entrusted debt through mass organizations have reached VND 451.8 billion, accounting for 99.9% of total outstanding loans. Through SCG, credit capital provided by VBSP Meo Vac district has met the capital needs of those investing, developing production and business to achieve the goal of socio-economic development and sustainable poverty reduction in the district, contributing to bringing the district's poverty reduction rate from 57.61% to 51.29%.

Phung Minh Thoc, Director of VBSP Meo Vac district said: To promote the results achieved in 2023 and successfully complete the tasks in 2024, the Transaction Office will focus on the operations of SCG; regularly improve credit quality, actively review due debts to have solutions for debt collection; well supervise the process of using capital of citizens taking loans.

Minh Thoc