Tiếng việt
Stay Connected:

News & Events

Updated: 2024-01-10 16:56:40

Supporting ethnic minorities in Quang Ngai to get out of poverty

Recently, Quang Ngai has implemented the main tasks and solutions identified in the overall project for socio-economic development of ethnic minority and mountainous areas "Innovating and expanding credit policies in the direction of expanding the number of borrowers to production and business projects that create livelihoods for ethnic minorities".

quang ngai

Ethnic minorities in Quang Ngai took loans for economic development

Preferential credit policies have empowered thousands of poor and near-poor ethnic minority households in Quang Ngai province to increase production and stabilize their lives.

For many years, Ms. Ho Thi Tam's family (in Tra Son commune, Tra Bong mountainous district) has been a poor household. Borrowing VND 50 million from VBSP with preferential interest rates, Ms. Tam invested in raising pigs for meat. She joined the training courses on animal husbandry to gain more knowledge and experiences. Therefore, her pig herb developed well and brought a stable source of income. After 2 years, Ms. Tam paid off her debt. She continued to borrow another VND 40 million to grow acacia. Thanks to hard working, her family is not now the poor household anymore.

Also receiving a loan of VND 50 million from VBSP, Ms. Ho Thi Tra (from Tra Son commune) grew acacia, raised livestock and opened a grocery store. Not only did she escape poverty, her family now has a better life.

“I borrowed VND 50 million from VBSP to grow acacia. After 4 years, I earned VND 80 million from acacia exploitation. I used that money to buy more household appliances and raise more pigs. My family's life now is much better than before," Ms. Tra said.

In the mountainous districts of Quang Ngai province, the poor households are the majority. Through entrusted mass organizations, people have timely accessed to preferential credit. This year, in the mountainous district of Tra Bong, Quang Ngai province, preferential loan capital was entrusted through the district VBSP according to Decree No. 28 of the Government on preferential credit policies to implement the National Target Program for socio-economic development in ethnic minority and mountainous areas in the period from 2021 to 2030, phase 1 from 2021 to 2025 has brought practical results.

Mr. Do Dinh Phuong - Vice Chairman of the People's Committee of Tra Bong district (Quang Ngai) said that this capital source has helped many poor households escape poverty: "This loan source contributes greatly to creating jobs for unemployed people or people having unstable jobs, thereby creating conditions for these workers to raise income and escape poverty".

As of November 2023, VBSP Quang Ngai province has disbursed preferential loans to more than 30,000 poor, near-poor households and other policy beneficiaries. In particular, preferential loan programs according to Resolution No. 11 of the Government on the Socio-economic recovery and development program and implementation of Resolution No. 43/2022/QH15 of the National Assembly on fiscal policy, the Program's support currency is more than VND 320 billion and loans to ethnic minorities and mountainous people according to Decree 28 more than 1,000 households with a total outstanding debt of VND 36 billion. These loans have helped poor and near-poor households develop economy and improve their lives.

Ms. NguyenThiThuyLinh, Deputy Director ofVBSPQuangNgai province said: "The deployed preferential policy credit capital contributes actively to the implementation of the National Target Programs inQuangNgai province. In the coming time, the Branch will continue to further promote the effectiveness of credit programs, paying special attention to mountainous, remote areas, and ethnic minorities, helping people have sources to develop production, improve their lives and reduce poverty sustainably".

Thanh Long



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