Tiếng việt
Stay Connected:

Press Release

Updated: 2023-01-10 10:59:39

Tea farmers escape from poverty thanks to VBSP’s loans

(VBSP News) With the loans from VBSP, thousands of poor households in Thai Nguyen province have had conditions to expand production, develop business, create jobs, step by step to stabilize their lives, thereby, contributing to the realization of poverty reduction goals, building new rural areas and civilized cities in the locality.

VBSP staff in Dai Tu district check the use of loans by borrowers in Tien Hoi commune

Empowering poor households to become well-off

Go to Trang Xa commune, Vo Nhai district, all the local people know Mr. Hoang Van The. With the fattening cow model, Mr. The is typical of good business farmers in the locality. While taking care of the cows, Mr. The excitedly said that before, his family life was very difficult. Thanks to the effective investment capital from VBSP in Vo Nhai district, his family has risen out of poverty. Recently, Mr. The was also lent VND 50 million by the district VBSP from the job creation lending program to expand the scale of fattening cows, so he was very excited.

Also with a loan of VND 100 million borrowed from VBSP's job creation fund, in 2021, Mr. Nguyen Van Lap from Cham 7A hamlet, Minh Duc commune, Pho Yen city, invested in the implementation of a model of growing fruit trees and tea. Thanks to the VBSP’s loan, plus the production knowledge, up to now, the model of growing fruit trees has begun to harvest. As for the tea growing area, each year the family sells 7 quintals of dried bud tea, priced from VND 180,000 to 220,000/kg, earning about VND 40 million/year.

From the effectiveness of the initial capital, in 2022, Mr. Lap will continue to borrow VND 100 million from VBSP in Pho Yen City to expand investment and develop a pig-breeding model with a scale of more than 100 pigs. Currently, each month, Mr. Lap's family sells 2-3 tons of pork, earning a profit of VND 20-30 million.

Deputy Director of VBSP Thai Nguyen branch Le Van Hong emphasized: It can be affirmed that the effective implementation of social policy credit sources in the province has given more motivation to the poor and other policy beneficiaries to boldly change their ways of thinking, doing, and rising out of poverty.




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