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Updated: 2024-05-15 14:25:09

Life changed thanks to policy credit

In recent years, VBSP Dak Lak Branch has implemented Decree No. 28/2022/ND-CP of the Government on preferential credit policies to deploy the National Target Program for regional socio-economic development in ethnic minorities and mountainous areas in the period 2021-2030 (referred to as Decree No. 28). Ethnic minorities have opportunities to access to preferential loans for housing construction, jobs creation and production, aiming to get out of sustainable poverty.


Ethnic minorities and poor households in Dak Lak province have opportunities to get out of poverty and improve their lives

Create livelihoods for ethnic minorities

Currently, there are 667 thousand ethnic minorities in Dak Lak province, accounting for 35.7% of the population; nearly 36 thousand poor households, accounting for nearly 65.8%. Ethnic minorities still face many difficulties. Building a spacious house and having a stable income are big problems for local people. Implementing Decree No. 28, in 2023, the branch deployed policy credit loans for people with the purpose of supporting residential land, housing, production land and job change; developing precious medicinal herb growing areas and developing production along the value chain.

Borrowers are poor households, near-poor households, businesses and cooperatives employing ethnic minority workers in the area. Loan programs have preferential interest rates. For the housing support loan program in the first 5 years, customers do not have to repay the principal and the loan term is from 10 - 15 years.

In 2021, Ms. H Yon Nie’s family (in Buon Kđung B, Ea Nuol commune, Buon Don district) lived in a dilapidated house. During the rainy season, her children had to live in small spaces. In 2023, VBSP lent her VND 100 million. Together with her own money and thanks to the help of local people in the village, she was able to build a new house larger than 50m². Ms. H Yon Niê happily shared: "Now, my family can live in a more spacious house than before. I look forward to being loan from VBSP to grow coffee, pay off all debt and get out of poverty”.

In addition, VBSP Dak Lak Branch also disburses loans for local people to change jobs and make production. For example, Mr. Y Sor Niê's household (in Jat B village, Ea Hiu commune, Krong Pac district) has been a poor household for many years. In February 2024, he took a loan of VND 50 million from policy credit source to convert from raising cows to growing coffee trees intercropped with durian. Mr. Y Sor Niê shared: "With the loan, I bought materials and fertilizers to take care of the coffee trees intercropped with durian. I believe that my family will rise out of poverty and enrich ourselves”.

To date, to implement Decree No. 28, VBSP Dak Lak Branch has disbursed loans of VND 5,480 million to 96 customers.

Continue to promote credit efficiency


Thanks to receiving preferential loans in order to develop buffalo farming, many ethnic minority families have got out of poverty

After a period of implementing Decree No. 28, it can be seen that ethnic minorities and poor households are able to build houses and develop more types of livelihoods, raising income to get out of sustainable poverty.

Mr. Dao Thai Hoa - Director of VBSP Dak Lak Branch said: Up to now, 1,738 ethnic minority has taken loans with the total outstanding debt of over VND 93 billion. Of these, there are 429 customers borrowing housing support, 50 households developing production land and 1,259 local people changing careers. Policy credit is used effectively for the right purpose.

It can be affirmed that the effective implementation of policy credit has created motivation for local people, especially ethnic minorities to rise out of poverty and have stable sources of income. In the coming time, VBSP Dak Lak Branch will continue to promptly disburse loans to beneficiaries; at the same time, propagate the preferential credit policies to ethnic minority in the area, aiming to improve the economy in the area and effectively implementing the goal of sustainable poverty reduction.

Phuong Linh



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