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Updated: 2019-12-11 10:04:43

The contribution of a veteran, a VBSP loan borrower in inclusive financial activities

(VBSP News) Mr. Luong Dinh Thang, living in Bac Son, a mountainous district of Lang Son province, is a Leader of Savings and Credit Group – who is also a hero of Na Nhi village people that helps them to access VBSP’s inclusive financial services and is a successful example of loan usage.

Mr. Thang (right) regularly visits the economic development models of group borrowers

In 2002, Mr. Thang was assigned to be the Leader of Savings and Credit Group in Na Nhi Village. Mr. Thang said: “In initial stage, the awareness of people about borrowing loan from banks for economic development was very limited. Therefore, the communication was very hard. Besides communicating at the village meetings and mass organization meetings, I had to accompany with mass organization staffs and VBSP officers come to each household to encourage them in borrowing.  At the same time, I guided people how to use loan effectively and suitably for each circumstance”.

After the people understood and boldly borrowed, the loan dossiers review was made more strictly. Being a group leader who is closest to the people, he must carefully consider which households are capable of repaying debts, working hard or who need orientation before borrowing. For those members who have difficulty in loans usage and regulations, do not dare to invested, afraid of potential risks and diseases, he encouraged and helped them have confidence, motivation and loan responsibility.

Mr. Thang is also the first person in the village to borrow money from VBSP to raise buffaloes and cows. “In the past, I raised more than a dozen buffaloes and cows. At this age, my children don't want me to work hard, so I sell them for savings, leaving only 4 buffaloes to feed” said Mr. Thang.

Mr. Hoang Dinh Tuyen is a member of the savings and credit group managed by Mr. Thang. “Seeing that Mr. Thang was using loan efficiency, I asked him for help and he was willing to support me. In 2017, I borrowed VND 50 million to raise breeding livestock with a noodle maker. After repaying the loan, at the end of 2018, I continued to borrow VND 50 million to invest in fish farming and chickens. Up to now, my family has a stable annual income of nearly VND 100 million, I can afford for my children to go to school.

Back in 2002, Mr. Thang’s savings and credit group had 24 poor households. Now, his group has only 2 poor households who are gradually escaping from poverty in the next year. Thanks to boldly investing, many households have stable incomes of between VND 50 million and VND 150 million per year.

Mr. Dong Huu Hoang Y Nguyen, Chairman of the Veterans' Union Association said that Mr. Thang is a dynamic, enthusiastic and responsible leader, who is dedicated to support people access loans for economic development. He himself has borrowed VBSP several times which is an example for people to follow and self-grow.

In the past 17 years, Mr. Thang has 7 times received the merit from Chairman of Bac Son District People's Committee; twice received certificate of merit by VBSP and many years have been praised by VBSP for his positive contribution in inclusive financial activities.

source: vbsp.org.vn



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


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Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year