Poverty reduction through promoting the effectiveness of policy credit

After 10 years of implementing Directive No. 40-CT/TW dated November 22, 2014 of the Party Central Committee Secretariat on strengthening the Party's leadership over social policy credit, Lam Binh district (Tuyen Quang) has actively contributed to poverty reduction and new rural construction.

Mr. Nong Van Thuy (in Na Va village, Thuong Lam commune, Lam Binh district) effectively used policy credit for economic development

Mr. Nong Van Thuy (in Na Va village, Thuong Lam commune, Lam Binh district) is one of the typical borrowers effectively using social policy credit in the district. Mr. Thuy shared: With the loan of VND 100 million from VBSP, he had money to invest in facilities and develop crops from the industrial agricultural membrane house system with high technology. Accordingly, he planted cantaloupes with over 1,350 gourds. Currently, the crops in his greenhouse system have grown well, promising a bumper harvest in the near future.

“My family built a high-tech agricultural membrane house system in the end of 2023 thanks to a loan from VBSP, so the effect was very good. In the coming time, I will expand production to earn more money for my family and create more jobs for local workers", Mr. Nong Van Thuy added.

Ms. Ma Thi Quyen (in Na Nghe village, Hong Quang commune, Lam Binh district) borrowed VND 50 million from VBSP’s poor household program to raise buffalo and cows

Mr. Nguyen Hoang Long - Deputy Director of VBSP Lam Binh District said: After 10 years of implementing Directive No. 40-CT/TW, households have more conditions to cover their living expenses and increase their income. In the coming time, VBSP Lam Binh District will continue to coordinate closely with mass organizations to propagate and guide people to use the bank's credit loans more effectively.

Lam Binh district has focused on directing units to implement 03 national target programs: new rural construction; socio-economic development in ethnic minority and mountainous areas; sustainable poverty reduction. Thanks to that, infrastructure has been invested synchronously, meeting the people's needs; Economic structure has developed in the right direction; tourism, trade and service have developed well; People's lives have been improved.

Currently, Lam Binh district has 4/10 communes meeting new rural commune standards. Thuong Lam commune meets advanced new rural commune standards. The rate of poor households according to the multidimensional poverty standard in the period 2022-2025 decreases by 7.39%, specifically: The number of poor households at the beginning of 2022 is 6,334 households, accounting for 55.91%, by the end of 2023 the district has 4,702 households, a decrease of 861 households, accounting for 40.93%. The district is striving to reduce 732 poor households by the end of 2024, a reduction rate of 34.15%.

People in Lam Binh district develop their economy effectively from policy credit

Currently, VBSP Lam Binh District has implemented 20 policy credit programs with the total outstanding loan of nearly VND 459 billion, an increase of over VND 304 billion compared to 2014. In the past 10 years, more than 21 thousand poor households and other policy beneficiaries have received loans from VBSP; over 8,500 households have got out of poverty; 4/10 communes have met new rural standards, of which 1 commune met advanced new rural standards.

In the coming time, Lam Binh district will continue to direct authorities at all levels to effectively implement Directive No. 40-CT/TW and Conclusion No. 06-KL /TW - an important task in the program for local socio-economic development.

Mai Huong