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Updated: 2024-04-19 14:17:27

Overcoming difficulties thanks to preferential credit

With the companionship and multi-dimensional support of social policy credit, many disadvantaged people in Hoa Binh province have opportunities to overcome poverty and hunger.


Thanks to policy credit, Mr. Bui Van Thu's family (in Kho hamlet, Chi Dao commune, Lac Son district) got out of poverty

Ms. Ha Thi Hieng's family (in Long hamlet, Van Mai commune, Mai Chau district) was one of thousands of poor households overcoming hunger and poverty thanks to social policy credit. Mrs. Hieng could not forget her miserable past with temporary house which cannot cover the rain and sun for her family.

Luckily, her family and other households had opportunities to access to preferential credit from VBSP. Ms. Hieng recalled that when she received loan, her family bought cows to develop livestock farming. Thanks to favorable grazing conditions, her herd of cows grew quickly, so her family could gradually accumulate money. After many years of raising cows, her family had a stable source of income and officially got out of poverty.

Ms. Hieng shared: "The State's preferential loans have helped my family get out of poverty. From raising cows, we gradually accumulate money, build new houses and have a more stable economy. Currently, after getting out of poverty, my family continues to receive loans from VBSP for post-poor households and safe water and rural sanitation. These are valuable sources for people in disadvantaged areas”.

Currently, Ms. Hieng's family has raised 5 cows and had a fish pond. Thanks to that, she has had a stable source of income. She is considering to borrow more money for livestock development. In Van Mai commune, there are currently nearly 500 poor households and other policy beneficiaries receiving preferential loans for economic development, with a total outstanding debt of over VND 22 billion.

In remote Chi Dao commune of Lac Son district, it is not difficult to find households that have overcome hunger and poverty thanks to the support of policy credit. For example, Mr. Bui Van Thu's family in Kho hamlet, more than 10 years ago, they were still struggling in poverty. Since receiving the policy loan, his family raised cows for reproduction.

When receiving loans for poor households from VBSP, Mr. Thu's family focused on raising cows. When getting out of poverty, his family continued to take loan from VBSP’s lending program for near-poor households and production households in disadvantaged areas. Therefore, his family had more money to expand livestock farming, bringing higher economic efficiency. From a poor household, Mr. Thu's family has currently got out of poverty. The degraded stilt house has been replaced by a spacious flat-roofed house.

Mr. Thu shared: “Taking loans from VBSP has had many benefits, including simple loan procedures and appropriate lending interest rates. Specially, my family has been supported by VBSP’s credit officers and mass organizations. Training activities have helped local people gain more knowledge to develop livestock and crop production”.

From the beginning of the year, VBSP Hoa Binh Branch has promptly and effectively implemented policy credit programs to over 8.8 turns of thousand poor households and policy beneficiaries. To date, the total outstanding debt of 19 ongoing policy credit programs has reached VND 4,943 billion. Policy credit has been an important motivation for nearly 101.9 thousand households to overcome difficulties as well as ensure social security.

Viet Dao



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