Policy credit helps people in the highlands (Bac Kan) get out of sustainable poverty

Thanks to the efforts of the Party Committee and provincial government; the drastic participation of the entire political system, departments and agencies, including the indispensable contribution of VBSP, Bac Kan has currently been improved dramatically with many newly opened roads, bright mountainous countryside...  

People in Bac Kan effectively develop economic models thanks to preferential loans

Pac Nam is one of the two poor districts in Bac Kan. Recently, district leaders have synchronously implemented many solutions, including paying attention to directing the mobilization of financial resources and main policy sources, meeting the loan needs of the poor and other policy beneficiaries. Thanks to that, Bac Kan has implemented two projects linking production with the consumption of indigenous pork products, with a scale of 400 pigs/production cycle of a project linking production with consumption of broiler chickens with a scale of 6,000 animals/production cycle. Thanks to policy capital, many Hmong families have opportunities to enrich themselves and voluntarily asked to leave the poor household status.

Typically, Mr. Ma Dinh Hao's family (in Phieng Duong village, Yen Cu commune), was granted a loan of VND 50 million by the Commune Farmers' Association and VBSP Cho Moi district under the poor household program to raise pigs for meat. Up to now, his pig herd has up to 80 units, selling 3-4 tons of meats every month, earning hundreds of millions VND. Thanks to the support of policy capital, Mr. Hao's family got out of poverty, and became a good production and business household in the commune.

Up to now, policy credit capital has covered the vast highland areas of Bac Kan with 100% of poor households and other policy beneficiaries having able to access to loans.

From a purely agricultural economy, Bac Kan has gradually formed commodity agricultural production associated with processing, bringing high economic efficiency. Forestry production has developed strongly, the forest coverage rate remains at 73.4% (the highest Vietnam). The whole province currently has 23 communes meeting new rural standards, the multidimensional poverty rate is 21.95%, decreasing by 2.76% compared to 2022.

In order to have such a sustainable reduction in the poverty rate, according to Mr. Ha Sy Con - Director of VBSP Bac Kan Provincial Branch, first of all, local party committees and authorities at all levels always determine to implement policy credit programs is an important political task.

As of April 30, 2024, the total operating capital has reached VND 3,331 billion, an increase of VND 2,030 billion compared to 2014, of which capital entrusted from the local budget was VND 85.4 billion, an increase of VND 83.3 billion compared to before implementing the Directive.

Policy credit activities have had many positive changes in recent times. Party committees and authorities at all levels have prioritized additional local capital entrusted to VBSP to lend the poor households and other policy beneficiaries; ...

Policy credit officers of Bac Kan province did not hesitate to work hard to quickly transfer nearly VND 3,400 billion of preferential capital from the State, as well as VND 85 billion of bank capital, transferring preferential loans to all villages, helping poor households and disadvantaged ethnic minorities promptly enter the production and business season.

Besides, VBSP Bac Kan Provincial Branch closely coordinate with the Savings and Credit and mass organizations entrusted at all levels to grasp the loan needs of the poor and key subjects, proactively fully respond to eligible subjects and loan needs in the area. This is a great motivation for Bac Kan province to effectively implement economic development programs and plans, ensuring sustainable social welfare.

The work of sustainable poverty reduction and new rural construction in Bac Kan province has achieved impressive results. Policy credit capital has made an important contribution to implementing this work over the past 22 years. In the coming time, VBSP Bac Kan Provincial Branch will continue to focus on mobilizing resources, quickly transferring policy capital to the village, contributing to promoting high mountain areas to become more and more prosperous and bright.

Dong Du