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Updated: 2024-02-19 14:15:04

Policy loans help Nghe An farmers create a tourist village

Recently, VBSP Quy Chau district (Nghe An) has accompanied the goals of the socio-economic development resolution set by the locality and promoted the effectiveness of the Government's policy capital in poverty reduction for this disadvantaged district.


Brocade weaving occupation of local people (Hoa Tien village, Chau Tien commune, Quy Chau district)

Accompanying the goal of socio-economic development

Ms. Lo Thi Nga (58 years old) and 4 other households (in Hoa Tien village, Chau Tien commune) received loans of VND 370 million from VBSP Quy Chau district to invest in community tourism development. With preferential credit, they purchased gongs, loudspeakers, and upgraded stilt houses into homestays.

Homestays are associated with the friendly and hospitable Thai ethnic identity. These homestays also sell brocade products and local products that really attracts tourists. Hoa Tien become a bright spot on the community tourism map when it establishes 3 community tourism cooperatives and a brocade weaving village with dozens of participating families. Every year, the village welcomes thousands of tourists to visit and experience. This result reflects the contribution of VBSP Quy Chau district in accompanying the local tourism development resolution. Ms. Lo Thi Nga said: "Without the initial preferential policy credit, it would be difficult for us to have the tourist property we have today!".

By the end of 2023, through 213 Savings and Credit groups, VBSP Quy Chau district has implemented 18 credit programs with the total outstanding debt of VND 524.37 billion, an increase of VND 79.7 billion compared to the beginning of the year; growth rate of 17.92% with 8,900 active customers; bad debt ratio only accounted for 0.09% of the total outstanding debt.

Currently, there are 34 households (in Hoa Tien village) borrowing VND 1.6 billion to develop homestays, brocade weaving occupation, animal husbandry, jobs creation, projects of houses and rural safe water construction to serve the development of community tourism. In 2023, 3 households got out of poverty, one household rose to be a near-poor household and continued to receive a loan of VND 176 million to develop in a sustainable direction.

Chau Tien commune is a locality where 80% of Thai ethnic people live. According to Mr. Sam Van Tuc, Vice Chairman of Chau Tien Commune People's Committee, in 2023, through policy credit programs, the entire commune had more than 900 turns of households borrowing loans with the outstanding debt of more than VND 34 billion for agricultural and livestock production, the development of tourism and brocade weaving villages and jobs creation; contributing to reducing poverty, increasing income, and improving life. In 2020, the average income per capita only reached 28 million VND/person/year, and in 2023 it has reached 51 million VND/person/year.

Chau Binh is a large commune of Quy Chau district, where many ethnic minorities live. Mr. Lo Van Toan, Chairman of the Commune People's Committee said: The local people received more than VND 90 billion from policy credit programs for socio-economic development of VBSP, with a priority focusing on developing community tourism fields and planting large wood forests.

To date, Chau Binh has planted 3,800 hectares of acacia forest - the largest forestry area in the district, in which 2,200 hectares have been granted FSC certification (Forest Stewardship Council - Sustainable Forest Plantation Certificate). With a large acacia tree forest planting cycle of 8 - 10 years, the income is 3 - 4 times higher than a 5-year cycle, so people here have invested more than 400 hectares on the plan of 1,000 hectares of large wood forests.

Comprehensive changes

VBSP Quy Chau district advised the Standing Committee of Quy Chau District Party Committee to issue Directive No. 08-CT/HU dated October 4, 2021 on strengthening the Party's leadership over social policy credit. This is considered the main key to help the leadership and direction of local government committees for social policy credit activities to have comprehensive changes in recent times.

Along with that, VBSP Quy Chau district drastically deployed "5G" on grassroots credit, associated with the action program of the Party Committee and the district's economic development goals. In particular, the priority was given to two breakthroughs in the development of community tourism and large wood forests; associated with two national target programs on sustainable poverty reduction and new rural construction; building typical economic models.

With the motto "transactions in the commune, service at home", up to now, the disbursement rate at the Commune Transaction Point has reached 99%, debt collection has reached 96.6%, interest collection has reached 98%, and savings deposits have reached 99.8%, creating favorable conditions for local people and customers to reduce transaction time and travel costs... Policy credit resource has given promptly to poor people and timely met the needs of economic development of people's society.

Mr. Le Hai Ly, Vice Chairman of Quy Chau District People's Committee said: Policy credit resource has helped Quy Chau promote economic restructuring, villages of traditional industries restoration; tourism development; OCOP product expansion; large wood forests development, which has helped to improve people's lives, increase income, especially the poor and policy beneficiaries; contributes to reducing the rate of poor households; helps 31 villages and 2 communes reach the goal of new rural areas.

Thanh Chau - Dinh Phuong



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