Khmer ethnic savings & credit group help each other to overcome poverty

Savings & Credit Group (SCG) in Phú Quới village, Tân Phú commune, Mỹ Tú district, Sóc Trăng province held montly group meetings actively and enthusiastically. In the air of the village cultural house, alike the common home of group, the members altogether discussed business and production experiences to increase more preferential credit source.

SCG meetings to help borrowers exchange business and production experience and promote loan usage effectively

Mr. Lâm Liếp, acting as the SCG leader, said: "In the past, due to capital shortage, villagers made small and disperse business and production, bringing about much difficulty. Poverty and backwardness pursued steadily each household. But since VBSP provided preferential loans, the village lives have changed actively, alleviating poverty".

Over the past time, 50 Khmer disadvantaged households in Phú Quới SCG have borrowed 687 million VND for animal husbandry, small business and give their children schooling. Especially, the group timely overcame the loan appropriating situation and returned more effective operation such as instructing group members to formulate business and production project, loan procedures. The management team regularly reminds everybody to send monthly, quarterly interests to the bank. Moreover, they often exchange production experience, new initiative and build the general model of business and production more effectively.

From the fruitful operation result of the Phú Quới group, SCG establishment is suitable and useful in managing loan source and household, monitoring and supervising loan utilization, commenting borrowers democratically at grass root level. The SCG not only help poor households overcome difficulty and have jobs but also create chances for them to access mass information, learn and apply technical and scientific progresses into production so as to improve the community power and altogether economic development.

In spring 2010, the Phú Quới SCG has more driving force to carry on completing tasks delegated by the VBSP, improving group operation to help Khmer ethnic minority get poverty away.

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