Soc Trang uses preferential credit for ethnic minorities to settle down

According to the report of VBSP Soc Trang branch, preferential credit source has contributed to the effective implementation of policies, goals and tasks on poverty reduction in ethnic minority areas.

Staff of VBSP Nga Nam town introduces preferential credit program to ethnic minorities

In Soc Trang province, over 1,500 ethnic minority households have had new houses built, developed production and gradually escaped poverty thanks to preferential loans under Decree No. 28/2022/ND-CP of the Government, which implements the national target program for socio-economic development in ethnic minority and mountainous areas for the 2021-2030 period.

Mr. Tran Phen’s family lives in Vinh Quoi commune, Nga Nam town. Previously, this was a poor household with no land for farming, and its members had to work as hired laborers for living, struggling to afford a solid home. Thanks to a preferential loan of VND 30 million from VBSP Nga Nam town, combined with his savings, Mr. Phen was able to build a solid house worth VND 110 million.

Mr. Phen shared, "In the past, we had to endure flooding in rainy season, which made daily living be difficult, especially during storms. Now, with our new solid house, everything is much easier, and we can focus on working, forwarding to the bright future".

Ms. Thach Thi Cam (also from Vinh Quoi commune in Nga Nam town) received a loan of VND 40 million to build a house. Both she and her husband work as laborers, making it hard to save enough for a solid home. She expressed gratitude for the Party and Government’s support in caring for the Khmer ethnic community, including her family, by enabling them to have a solid house. Now, both she and her husband can work with peace of mind, focusing on saving for their children’s education.

Mr. Nguyen Viet Chin, Director of VBSP Nga Nam town said: “There are 42 customers taking loans under Decree No. 28 in Nga Nam town, with a total outstanding loan balance of over VND 2 billion, contributing to improving the living conditions of ethnic minorities, helping them settle down and focus on economic development, thus improving their quality of life”.

Ms. Thach My Ngan (in My Thuan commune, My Tu district) used to run a small vegetable business at the local market. At the end of 2022, she accessed a 20-million-VND preferential loan to switch occupations. Her family decided to lease 4,000 square meters of rice field to grow lotus for flowers, seeds, roots, and stems. After more than three months of cultivation, the lotus stems were ready for harvest. Currently, her family harvests about 20-30 kilograms of lotus stems daily, earning nearly VND 500,000 per day. Now, they have accumulated enough savings and plan to buy 2,000 square meters of land to continue growing lotus.

According to Mr. Tran Phuoc Phi Bang, Deputy Director of VBSP My Tu district: “The Khmer ethnic people make up 24.59% of the district’s population (7,482 households with 32,253 people). Recently, the unit has disbursed loans to 122 cases with nearly VND 5 billion from the preferential credit source under Decree No. 28”.

Ms. Trinh Bich Tuyen - Deputy Director in charge of VBSP Soc Trang branch noted that the preferential credit under Decree No. 28 of the Government is profoundly humane, playing an important role in effectively implementing policies and objectives for poverty reduction in ethnic minority areas. The branch has actively advised the provincial People’s Committee on reviewing and identifying eligible loan applicants to build plans and focus on timely disbursements. To date, the branch has disbursed to over 1,526 customers with nearly VND 63 billion in total (supporting housing for 719 customers with amounting to nearly VND 27 billion; supporting occupational change for 806 customers with VND 37 billion).

According to the 2025 capital plan, Soc Trang will continue to disburse approximately VND 30 billion in preferential loans to ethnic minorities to enhance the effectiveness of expanding preferential credit for production and business development projects.

Tuan Phi/TTXVN