Quang Ngai allocates policy credit sources entrusted through VBSP

In 2024, the budget of Quang Ngai province and districts, towns and cities have been entrusted through VBSP Quang Ngai Provincial Branch to supply loans to the poor households and other policy beneficiaries for economic development. In 2024, VND 91 billion has been entrusted from the budgets of the province and local. In particular, some localities have increased their trust budget allocations such as: Quang Ngai City (VND 5 billion), Binh Son district (VND 3 billion), etc.

VBSP Tu Nghia District disburses preferential loans for borrowers at Nghia Trung Commune Transaction Point

Ms. Tran Thi Hong Oanh - Director of VBSP Tu Nghia District said: In 2024, Tu Nghia District People's Committee has allocated VND 2.5 billion to the entrusted budget through the unit, an increase of VND 500 million compared to 2023. As of April 30, 2024, the total source entrusted provincial and district budget capital has reached nearly VND 96 billion. The unit has disbursed loans to more than 1,660 households to create jobs, raise livestock and develop the economy.

In Binh Son district, in recent years, from the entrusted budget capital, the unit has had additional preferential loans to meet the loan needs of poor households and other policy beneficiaries. Mr. Nguyen Van Muoi - Director of VBSP Binh Son district said: In 2024, to implement the direction of the District People's Committee, the provincial budget allocation and the district budget entrusted to the total of nearly VND 20 billion for jobs creation. To date, the total outstanding loans for job creation has reached more than VND 134 billion with 2,781 borrowers.

To promote the effect of loans, VBSP districts and towns has coordinated with the authorities of communes, wards and towns to strengthen propaganda and publicly post programs of preferential credit policies at commune and town transaction points. At the same time, VBSP regularly review the quality of activities of savings and credit groups, check loan reviews to ensure openness and transparency. Thereby, policy capital has been effective.

Ms. Tran Thi Bich Lan - Owner of an incense production facility in Nghia Hoa commune, Tu Nghia district said: "Previously, my family made incense by hand, so productivity was low. Especially, at the end of the year, the facility's incense supply is not enough for the market. When I got policy loans, I boldly borrowed VND 30 million to invest in a system of toothpick launchers, incense sticks and powder mixers to serve production. Up to now, her facility's incense making machine system has been effective, giving high productivity and incense products meet market needs. Each year, her facility earns tens of millions Dong, creating jobs for 5-7 local workers”.

Mr. Tran Duy Cuong - Director of VSP Quang Ngai Provincial Branch said: By April 2024, 2,385 households have opportunities to access to preferential loans for jobs creation. On average, each employee borrows a maximum of VND 100 million. However, currently the need for loans is very large, the branch has proposed to the Provincial Party Committee so that the central government can allocate counterpart capital to meet the loan needs of the households in the area.

Anh Nguyet