Policy credit - "Leverage" for poor households in Kien Giang

Over the past time, VBSP Kien Giang Branch has continuously coordinated with local authorities and mass organizations to deploy policy credit programs to poor households and other policy beneficiaries, contributing to sustainable poverty reduction and economic development.

Doan Cong Thiet, Director of VBSP Kien Giang Branch, spoke at the Conference of deploying tasks in 2024

Many households got out of poverty thanks to loan credit

There are totally 360 households in hamlet 6, Vinh Hoa Hung Nam commune, Go Quao district, in which, 78% are ethnic Khmer people. Thanks to preferential credit from VBSP, many people have escaped poverty and achieved economic stability, for example, Ms. Danh Thi Bich Ngoc's family.

Previously, her family was a poor household in the hamlet. Thanks to the guidance of the Women's Union of Hamlet 6, she took a preferential loan of VND 50 million from VBSP to build a sow barn and restore the traditional craft of weaving. Until now, her family has had a full life and paid off all the debt for VBSP.

Ms. Huynh Thi Lan Chi's family (in Duong Go Lo hamlet, Long Thanh commune) was the first household in Giong Rieng district to borrow money from program of lending to people who have completed their prison sentence. She used loan to open a grocery store. Her family has now gradually stabilized their life.

Continue to support poor households to escape poverty

Many disadvantaged households in Kien Giang strived to get out of poverty

Doan Cong Thiet, Director of VBSP Kien Giang Branch, said that VBSP Kien Giang has implemented 21 policy credit programs with a total outstanding debt of VND 5,873 billion, an increase of VND 1,089 billion compared to the beginning of 2023. Policy capital has channeled most communes, wards and towns of 15 districts with investment priority in remote areas, disadvantaged areas, border areas, islands, ethnic minority and mountainous areas.

Over the past 21 years, policy capital has effectively supported poor households and other policy beneficiaries to escape poverty. Specifically, the capital source has helped over 46 thousand poor households, near-poor households, post-poor households and other policy beneficiaries develop their economy, more than 11 thousand workers created jobs, nearly 2,000 students have money to cover study expenses, 407 houses built and renovated; 17 customers having completed their prison sentences are eligible for policy loans under Decision No. 22/2023 of the Prime Minister.

Policy credit has gradually improved people's lives, creating huge changes in disadvantaged areas and ethnic minority areas, making an important contribution to poverty reduction. As of 2021, the poverty rate in Kien Giang province decreased to 1.69%. By 2025, Kien Giang has strived to reduce by 0.2% of total poor households each year. Particularly, ethnic minority areas have annually reduced by 1 - 1.5% and reduced by 60% of the number of disadvantaged communes.

VBSP Kien Giang Branch has focused on mobilizing large capital sources and effectively organizing the State's policy credit programs. As of December 31, 2023, total policy credit capital has reached VND 5,885 billion, an increase of VND 1,092 billion compared to 2022. All capital has been mobilized, including capital entrusted to invest in local is VND 421 billion, an increase of 29.8%.

The work of economic development and social security in Kien Giang province has achieved great results. Credit capital has made an important contribution to the work of supporting people to escape poverty and achieve economic development over the past many years. In the coming time, VBSP Kien Giang Branch will continue to help the province rapidly develop economy and ensure social security.

Dong Du -  Thanh Van