Tiếng việt
Stay Connected:

Client success stories

Updated: 2016-03-10 09:30:52

Lift from poverty from remote island

For the past three years, since VBSP Transaction Office of Cô Tô island District was established and started into operation, loans from VBSP have extended to the poor and other social beneficiaries in this area, which contributes to job creation, poverty reduction.

Image result for thanh hóa nhcsxh hộ nghèo đảo xa

Leaving home from Hậu Lộc, Thanh Hoá province in 2001, Liệu came to Quảng Ninh to earn living, with the first stop-over in Ngọc Vừng commune, Vân Đồn district, Quảng Ninh province. After two unprofitable working years, he continued going to the island and Cô Tô is where his family set up business. Liệu confided: “That day is extremely difficult, my family has “no land for housing and cultivated soil, no capital and fish catching tools”.

Thanks to the consideration and support from People Committee, local authorities provided land of housing and cultivated soil for Liệu’s family. Especially, his family was trusted to join into Savings & Credit Group of Farmer Association to borrow loans from VBSP. Despite of the long-standing tradition of living by fish-catching in his family, when coming to Cô Tô Island, he found out that development of garden, pond and cage is the most suitable way for his family. In late 2003, VBSP Transaction Office of Cô Tô District lent him VND 7 million. Initially, with this little loan, he invested into means of exploring seafood and aquatic products. With capitals accumulated from sea fish farming, his family repaid interests and principals for VBSP in mid 2004. Along with investment of catching sea food and aquatic products, he received lands for opening farm, boosting animal husbandary and planting activities. He was approved to borrow VND 10 million from VBSP and he even repaid debts before due time. He is currently entitled to borrow VND 15 million to invest into animal husbandary, combining catching sea fish with model of garden, pond and cage cultivation. Thanks to diligently accumulating savings and manage to learn experiences in agricultural and fishery extension, his family is gradually better.

After three years of setting up his household business in Cô Tô, up to now, Lieu has had a stable home economy, including: a farm of  3,000 m2 , a herd of over 10 cows and over 20 goats, a fish pond with high yield of carp, catfish and chub,.etc. He calculated in his head: “Now except for expenditure, my family can save up VND 30 million to continue investing into farming development each year”. Every neighbor has the same appreciation about his family’s will of getting rich.

Due to do well in business, his family has created employment for several people in the hamlet. Nguyễn Văn Tuấn, living in the hamlet, happily confided: “my family has only bamboo fishing boat  but not other means of offshore fishing. Fortunately, Lieu has helped me and other neighbours to catch offshore fish with him, thus my family conditions have improved”. Also Nguyễn Văn Chiến, chief of hamlet proudly confided: “Lieu’s family is an energetic one that know how to get rich legitimately from VBSP’s loans. We highly admire and consider him as a good example in labour and production for us to follow. The resetlement of Lieu’s family in this land may be a right place in their life”.

Phạm Ngọc Sinh



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