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Updated: 2024-05-13 14:41:26

Policy credit – important key in Ninh Binh

Recently, authorities and departments in Ninh Binh province have advised the Provincial Party Committee to allocate resources in order to implement many programs and projects, contributing to sustainable poverty reduction in the new period. One of the key projects is to focus on mobilizing and promoting policy credit to create livelihoods for the poor and other policy beneficiaries to develop production and improve their lives.


Local people take the loans at the commune transaction point

Mr. Pham Duc Cuong - Director of VBSP Ninh Binh Branch said: During over 21 years, the branch has focused on mobilizing financial resources; quickly channeled the State's preferential credit sources to all villages and communes, regardless of mountainous and remote areas; contributing to implementing the local national target programs on sustainable poverty reduction.

By the end of March 2024, the branch's total credit sources have been reached nearly VND 4,000 billion, an increase of more than VND 466 billion compared to the same period last year. In particular, after nearly 10 years implement Directive No. 40-CT/TW of the Party Central Committee Secretariat, VND 210 billion of entrusted local capital has been transferred to VBSP in order to loan thousands of poor households and other policy beneficiaries to serve production and effectively develop economic models.

Thanks to a large credit source, a system of 2,218 Savings and Credit groups and a network of transaction points of VBSP covering all communes, wards, towns... it has created favorable conditions for local people to easily access to preferential credit from the State. In 2023, the loan revenue of VBSP Ninh Binh Branch reached VND 1,181 billion with 24,523 loan customers, contributing to reducing the poverty rate to 1.86% (down 1.19% compared to the end of 2022).

Nearly 10,000 workers have been created jobs; nearly 1,500 disadvantaged students have been taken opportunities of schooling; 22,000 works of safe water and rural environmental sanitation have been built and renovated; 200 new solid houses for poor households and policy beneficiaries have been built; etc.

Ms. Dinh Thi Ly's family (in Nga 1 village, Cuc Phuong commune) is one of the households effectively utilizing policy loans to develop livestock and production. Taking loan of VND 50 million from VBSP, she has owned an ideal garden and pond model and earned hundreds of VND millions each year, getting out of poor households.

Mr. Tran Van Ty's family (in hamlet 3, Gia Thang commune) borrowed money from VBSP Gia Vien district in 2016 to raise cows for reproduction, combined with growing passion fruit and sweet pineapple, rising out of poverty. After paying off the first loan to the bank, his family continued to apply for another loan to expand the integrated livestock farm. "Currently, my family owns a herd of 6 cows, 1,000m² of freshwater fish, bringing the income of VND 200 - 250 million each year", Mr. Ty shared.

Policy credit source has actually played an important role in sustainable poverty reduction in many consecutive years, especially in the period 2021 - 2025. VBSP Ninh Binh Branch will continue to effectively implement Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Secretariat, contributing to the sustainable poverty reduction and new rural areas construction in the province.

Minh Uyen




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