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Updated: 2020-04-08 12:54:49

Supporting the poor in production development in response to Covid-19 pandemic

(VBSP News) Thanks to simple loan procedures and quick disbursement, VBSP’s credit programs have become popular to local residents in Duong Minh Chau district, Tay Ninh province.

Ms. Than Thi Tham (right) shares her model of guava cultivation

More than 2 years ago, Ms. Than Thi Tham's family was a difficult household, however, thanks to the support from VBSP, her family escaped from poverty.

Ms. Tham shared: “In the past, I was just a worker so my family's economy was not good. When I got elder, I could not work outside anymore so my family’s life became worse. Luckily, I borrowed VND 20 million from VBSP in Duong Minh Chau district to renovate the land to plan Taiwanese guava with red and white flesh. Up to now, besides planting guava, I also grow vegetable. Therefore, my family’s income is relatively stable".

Everyday, she harvests about 150kg guava with an average selling price of VND 15,000/kg. On average, the income from vegetable and guava is nearly VND 400 million per year.

In order to support local residents, especially the poor in economic development, in recent years, the Farmers’ Association in the district have implemented many solutions to help the members develop suitable economic models. Thereby, there are many new models of animal husbandry, planting of medicinal plants or temperate fruit trees, giving high income.

Ms. Nguyen Thu Hang’s family in Quarter 4, Duong Minh Chau town used to be a poor household. However, thanks to the encouragement of the Farmers’ Association in Duong Minh Chau town, Ms. Hang borrowed loans from VBSP to raise cows.

At present, her cow's herd is growing well. Within 2-3 months she can sell her cows with the price from VND 16 to 25 million/cow. As a result, her family’s economy gradually stabilizes.

In the outbreak of Covid-19 pandemic, affecting the business and production activities of local residents, recently, VBSP branch in Duong Minh Chau district has cooperated with local authorities and mass organizations grasp timely the status of borrowers’ business and production to deploy solutions such as: adjusting repayment term, loan extension, etc.

Mr. Nguyen Huu Phuoc - Deputy Director of VBSP branch in Duong Minh Chau district said: “In order for people to improve production and business when the situation of pandemic becomes better, VBSP branch in Duong Minh Chau district is giving many solutions such as giving new loans to the poor and other vulnerable populations affected by the pandemic to help them improve production and business.

vbsp.org.vn

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LENDING INTEREST RATE

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

Students

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
Others...

DEPOSIT INTEREST RATE

Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year
Others...