Policy credit accompanied with economic development

Preferential credit from VBSP Nghia Hanh district (Quang Ngai province) has played an important role in promoting the economy, helping people in the area raise their income and gradually get out of poverty and enrich themselves.

Thanks to VBSP’s preferential credit, Ms. Nguyen Thi Cam Tien’s family (Hanh Trung commune, Nghia Hanh district) extended her workshop of rice paper production

Support to develop economy

Following the suggestion from Vietnam Women’s Union of Hanh Trung commune, Nghia Hanh district, we visit the workshop of rice paper production of Ms. Nguyen Thi Cam Tien. She was an accountant in Ho Chi Minh City. Due to Covid-19 pandemic, she returned to Hanh Trung commune to open a workshop of wicker chairs. Unfortunately, her business suffered losses. After considering, she decided to borrow money from VBSP to produce rice paper.

Assessing Ms. Tien’s application for loans, VBSP Nghia Hanh district approved her loan application and disbursed her VND 100 million.

Now, Ms. Tien’s workshop has developed with the best scale in Nghia Hanh district. All operations such as coating, drying and cutting have been made by machines. Her workshop has supplied about 600 kilograms of rice paper to the market per day, and she has earned VND 20 million per day. She has created jobs for 14 employees in the area with the income of  VND 200 thousand per person per day.

Not only was Ms. Tien able to access to the preferential credit but many residents in the area also could take the loans for raising silkworms and growing fruit trees. Mr. Vo Van Hoang’s family could be considered a typical production household in this area. He said that he had received VBSP’s loan of VND 70 million to grow fruit trees. He has grown mulberries and raised silkworms. His yard is over 1 hectare and become a visiting address for many tourist groups. Therefore, his family had the stable source of income.

Continue to effectively promote preferential credit

From the beginning of 2023, 1,500 of the poor, near-poor and post-poor households and other policy beneficiaries have had chances to take loans from VBSP Nghia Hanh district for economic development. In 9 months of 2023, lending turnover has reached over VND 69.2 billion and debt collection revenue has reached nearly VND 41.8 billion. As of 30/9/2023, total outstanding loans of policy credit programs has reached over VND 355.7 billion with 7,033 active households.

Do Van Kha, Director of VBSP Nghia Hanh district said that in the coming time, they would deploy timely and effectively preferential credit programs, helping the poor and other policy beneficiaries access to credit for economic development.

Hong Hoa