Quang Nam Widely Expands Policy Credit

Policy credit activities in Quang Nam Province have developed extensively, contributing to job creation, poverty reduction and local socio-economic development.

Mr. Tran Quang Phuong’s family used loan from VBSP to raise snakehead fish in Thang Binh District

Highlights in Thang Binh

In the first quarter of 2025, total disbursed policy credit loans in Thang Binh District reached VND 70 billion, while debt collection reached VND 48 billion. The district’s outstanding policy credit increased by VND 22 billion compared to the beginning of the year, bringing the total to VND 971 billion (accounting for more than 11% of the province’s total outstanding policy credit). VBSP Thang Binh District is currently implementing 16 preferential loan programs, including loans for job creation, poor households, near-poor households, post-poor households, social housing investment and disadvantaged students.

Mr. Tran Quang Phuong’s family (in Phuoc Am Hamlet, Binh Trieu Commune) currently has an outstanding policy loan of VND 91 million. In 2023, Mr. Phuong borrowed VND 100 million from VBSP Thang Binh District to invest in eight lined ponds to raise snakehead fish. Thanks to his proper care, the fish grew quickly. “After nine months, I harvested 10 tons of market-size snakehead fish per pond, earning about VND 500 million from each. I plan to expand my fish farming operation soon”, he shared.

Similarly, Mr. Nguyen Phuoc Nam’s family (in Phuong Chau Hamlet, Binh Trieu Commune) borrowed VND 100 million from VBSP Thang Binh District to run a coffee business. He not only buys coffee beans from the Central Highlands for roasting and wholesales them to local businesses in and outside Thang Binh, but also sells coffee grinders and brewers. To expand his business beyond the province, he sought capital from VBSP’s policy credit programs.

Mr. Nguyen Van Huy - Vice Chairman of the District People’s Committee and Head of the Board of Representatives of Thang Binh VBSP said: “Bringing policy credit to the people, we aim for sustainable poverty reduction, promotion of new rural development, social security and overall socio-economic growth. Fortunately, policy credit has now covered all residential areas, showing tangible effectiveness, especially where borrowers succeed in business, repay their loans and contribute to the capital source through savings deposits”.

Widespread Development

As of March 31, total policy capital in Quang Nam reached nearly VND 8,293 billion (up over VND 212.5 billion since the beginning of the year). In Q1/2025, loan disbursements totaled over VND 703.5 billion, benefiting 10,866 poor households and other policy beneficiaries. Total outstanding loans for policy credit programs reached over VND 8,270 billion (an increase of nearly VND 210 billion, or 2.6% growth) with 141,014 active borrowers. Credit quality remains strong, with overdue and frozen debt making up just 0.18% of the total.

Mr. Le Hung Lam - Director of VBSP Quang Nam Provincial Branch said that local credit officers have closely coordinated with local governments and entrusted mass organizations to widely promote policy credit among the population. At the same time, they have simplified procedures to help people quickly access preferential loans for economic development, clean water, social housing and overseas employment.

Policy credit in Quang Nam has now expanded to all districts, especially supporting ethnic minority communities in upland areas, promoting socio-economic development in those regions.

VBSP Quang Nam Provincial Branch will continue to advise the Provincial People’s Council and People’s Committee to allocate more local budget capital to VBSP to implement loans for eliminating temporary and dilapidated housing, sending workers abroad under fixed-term contracts, social housing and job creation. At the same time, they will adopt comprehensive solutions to improve policy credit quality.

Mr. Tran Anh Tuan - Vice Chairman of the Provincial People’s Committee and Head of the Board of Representatives of VBSP Quang Nam Provincial Branch praised the province’s policy credit activities in recent times. In Q1/2025, policy capital was disbursed promptly, meeting the financing needs of poor, near-poor and other policy households for production and business. Credit growth met planned targets, and capital mobilization from the public and economic organizations was maintained effectively.

In the coming time, the branch is expected to implement Directive No. 39-CT/TW, dated October 30, 2024, from the Party Central Secretariat on improving the effectiveness of social policy credit in the new context, contributing to sustainable poverty reduction and new rural development in Quang Nam.

Viet Nguyen