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Updated: 2024-03-07 13:13:50

Policy credit contributes to building new rural areas

Currently, the total outstanding policy credit in 111 new rural communes in Binh Dinh province reaches VND 4,552 billion with 76,000 active borrowers. Policy credit has been an important resource, contributing to helping localities effectively implement the New Rural Construction program.


Many households come to Vinh Hiep Commune Transaction Point, Vinh Thanh District to take a loan for economic development

To quickly convey preferential credit to the local people, VBSP Binh Dinh Branch has coordinated with mass organizations at all levels to establish Savings and Credit groups; promote propaganda work and proactively support households in need of loans to complete necessary procedures for disbursement.

Local governments consider bringing preferential credit to the people as one of the important solutions in sustainable poverty reduction, so they have appropriated their budgets entrusting VBSP to handle loans with preferential interest rates.

Close and responsible coordination between units has helped people effectively utilize their loans, have money to repay loans on time and accumulate capital for reinvestment. To date, policy credit source has covered 100% of communes, wards and towns, with priority loans in ethnic minority areas, mountainous areas, disadvantaged areas and remote areas and focused investment in localities with high poverty rates and 111 communes to build new rural areas.

In the morning of February 27, many households went to the transaction point of Vinh Hiep commune, Vinh Thanh district to borrow money from VBSP Vinh Thanh district to invest in afforestation and cattle raising. With advice and guidance from bank officials, Mr. Dien Van Thai (in Vinh Tho village, Vinh Hiep commune) soon completed the loan procedure of VND 50 million. Mr. Thai shared: "Last time, VBSP lent me VND 50 million to buy 2 breeding cows. This time I borrowed another VND 50 million to buy more breeding cows. Livestock has been the main source of income for my family."

Mr. Huynh Duc Bao - Standing Vice Chairman of the People's Committee of Vinh Thanh district cum Head of the Board of Directors Representative of VBSP Vinh Thanh district said: Policy credit activities have spread to 59 hamlets and villages and got positive results. By the end of 2023, total outstanding local policy credit has reached more than VND 450.3 billion, an increase of more than VND 58.4 billion compared to the beginning of 2023. 5,642 households have received loans for economic development, livelihoods, jobs creation, constructions of safe water and sanitation. Thanks to policy credit, Vinh Quang commune has met New Rural standards.

Policy credit activities have also promoted positive results in districts: Phu My, Tay Son, Hoai An... Mr. Phan Phuong Trinh, Deputy Director of VBSP Phu My district, shared: Loan revenue for main credit programs in 2023 reached VND 225,324 billion, an increase of VND 32,346 billion compared to 2022. In which, 4,811 households received loans for production and business; construction of safe water and sanitation facilities; loans for children's education; social housing, contributing to helping localities complete the criteria for building New Rural Areas.

According to the report of VBSP provincial branch, currently, the total outstanding loan in new rural construction communes in the province has reached VND 4,552 billion with more than 76,000 active borrowers.

Mr. Doan Trung Thanh, Director of VBSP provincial branch, said: "We closely follow the province's New Rural Construction program for the period 2021 - 2025 and especially prioritize loans for disadvantaged communes. The branch will continue to promote the effectiveness of grassroots transaction points and Savings and Credit groups in order to resolve loans for people as quickly as possible; at the same time, coordinate with local authorities, functional branches, and mass organizations entrusted to guide people to develop economy and promote effective credit sources.

Pham Tien Sy



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