Increase income for poor farmers in Phu Tho

Thanks to policy credit loans, many poor households in Phu Tho province have had opportunities to develop livestock farming, plant new effective tree varieties, gradually increase their income and improve their lives.

Many households in Thanh Ba district bought new tea varieties planted on large areas and combined with livestock raising, which bringing increasingly high income

Phu Tho is a locality with a large area of agricultural, but production is still fragmented and not very effective. Many farmers still have difficulty accessing policy credit loans to invest in agricultural development. In recent years, thanks to the preferential credit loan program, thousands of poor households in the province have got out of poverty and enriched themselves.

In 2017, Ms. Nguyen Thi Phuong (in village 8, Dong Xuan commune, Thanh Ba district) received VND 30 million from the loan program for poor households of VBSP Thanh Ba district. Ms. Phuong shared that her husband passed away early and she did not have a stable job. She cherished plans to grow crops and raise livestock to get out of poverty, but she did not have money.

With the loan, Ms. Phuong immediately bought new high-yield tea varieties, repaired barns, and bought breeding pig, chicken, duck. " By 2020, my family got out of poverty. Currently, my stable income from tea trees and livestock raising is up to nearly VND 200 million per year, which has helped our life much better. I can build spacious houses and buy full household appliances...", Ms. Phuong shared.

Mr. Phung Van Dan’s family (in Buong area, Tan Son commune, Tan Son district) was previously a poor household. In 2019, Mr. Dan received a loan of VND 50 million from VBSP Tan Son district. Mr. Dan bought 4 cows and planted forests (acacia, cinnamon...).

Up to now, Mr. Dan's family has raised 12 cows, planted more than 1 hectare of forest. His family’s life has improved significantly, his children have been able to go to school... Mr. Dan's family has paid off all debt and got out of poverty since the end of 2023. Mr. Dan said that this year his family would earn nearly VND 100 million from the livestock and crops that are growing well.

“From now on, when I have money from selling cows and collecting trees, I will repair and build larger barns. And probably in just a short time, when I have a stable source of income, I will buy more garden to plant new tea seedlings, aiming to develop a sustainable agricultural model, bringing higher income and enrich myself," Mr. Dan excitedly shared.

Mr. Nguyen Thanh Tinh - Deputy Director of VBSP Phu Tho Provincial Bank said: The branch is implementing 20 entrusted policy credit loan programs through 840 mass organizations concluding 3,695 Savings and Credit groups.

Over the past 20 years, over 78,200 households have got out of poverty; 215,800 workers have been created jobs; over 7,800 workers have worked abroad for a limited time; over 97,000 disadvantaged students have had opportunities of schooling; nearly 345,200 works of rural safe water and environmental sanitation have been built and repaired; 339 social housing have been built...

The deployment of policy credit sources in Phu Tho province has contributed to creating jobs, ensuring social security, building new rural areas and promoting socio-economic development, contributing to reducing the province's poverty rate from 31.08% in 2005 to 5.19% in 2023.

VBSP Phu Tho Provincial Bank is focusing on implementing policy credit loan activities for the period 2021 - 2030 to develop towards sustainable stability for the poor and other policy beneficiaries. At the same time, VBSP Phu Tho Branch also closely follows socio-economic development goals of Phu Tho province, ensuring 100% of the poor and other policy beneficiaries have access to products and services of VBSP...

Hoan Nguyen