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Updated: 2021-03-03 11:06:40

VBSP companion with people on the path of escaping poverty

(VBSP News) With the purpose of companion on the path of sustainable escaped poverty, over the years, the VBSP branch in Thanh Son district (Phu Tho) has implemented effectively the policy credit scheme for poor households, especially focusing on the ethnic minorities. It has contributed to enhancing the lives’ standard, sustainable poverty reduction, and promoting the province's socio-economic as well as the ethnic minorities' lives.

The VAC model of Ha Duc Hai at Ngoc Son 1 area, Son Hung commune, has brought high income and helped his family escape from poverty.

Currently, the credit scheme being implemented was prioritizing capital sources for communes with high rate poor ethnic minority households. In particular, the family of Ha Duc Hai (Muong ethnic) in Ngoc Son 1 area, Son Hung commune, benefited from the policy credit scheme. Before 2013, his family was still on the poor household list of the commune. Established a career from nothing, he boldly borrowed preferential loans from VBSP to develop his own business with the amount of VND 30 million in loan term 5 years.

After 4 years of perseverance with the VAC model, his family escaped poverty. Thereafter, he continued to borrow VND 20 million from the VBSP to expand the barn and scale up production. Until now, the farm has had 10 breeding pigs, 70 porkers, various fruit trees such as orange, green pomelo, which earn more than 500 million per year. Mr. Hai excitedly shared that without the preferential loans from the VBSP, it was difficult for him to build a stable economy presently. At the moment, he has just borrowed an additional VND 30 million to complete the automatic water pump system for the livestock breeding area and the orange and pomelo gardens, ensuring environmental hygiene.

Recently, the policy credit source has been brought to 100% of communes and wards nationwide with many preferential credit schemes such as lending for production and business in disadvantaged areas, rural safe water and sanitation program, housing for the poor, job creation program. So far, the credit quality has been constantly strengthened and improved, which overdue debt and frozen debt have always been well controlled. The socio-political organizations have received the mandate of regularly checking the use of loans and participating in deposits. It should also take initiative in handling due debts and urge the recovery of overdue debts. Besides, the VBSP branch of Thanh Son district also actively coordinated with the locality to participate in consulting production development and guided households to apply science and technology to production and business.

Director of the VBSP branch of Thanh Son district, Mr. Nguyen Ngoc Lam stated that VBSP will continue to give priority and create conditions for ethnic minorities in remote and extremely difficult areas in the following time. This action will support people quickly access the capital source to invest in business development, stabilize life, step by step escape from poverty, which contribute to well implement the goals of socio-economic development, sustainable poverty reduction and ensuring social security in the locality.




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