VBSP in Lam Dong province: Timely disbursement - good epidemic prevention and control

(VBSP News) In the face of complicated developments of the Covid-19 pandemic, from the beginning of 2021, VBSP Lam Dong province has closely followed the direction of Central VBSP and local authorities on epidemic prevention and control and promptly proposed many solutions to mobilize funding resources, transfer policy capital to beneficiaries. Besides, VBSP also ensures safety for officials of mass organizations, Savings and credit groups, poor households and other policy beneficiaries while doing transactions during the epidemic season.

VBSP in Lam Dong province maintains safe operations during the Covid-19 pandemic at commune transaction points

Director of the Vietnam Bank for Social Policy in Lam Dong province Vo Van Thanh said: “With a creative approach, consistent with the determination to overcome difficulties, in the past 5 months, preferential credit has been channeled smoothly throughout the vast Southwestern region. In the midst of the Covid-19 pandemic, 18,000 turns of poor households, near-poor households, and households in remote and isolated areas received VND 694 billion loans in to invest in intensive farming, industrial crops, green vegetables, raising dairy cows, breeding buffaloes, restoring brocade, bamboo and rattan weaving villages”.

Policy capital in Lam Dong is still growing in the midst of the Covid-19 pandemic. Along with capital from the central government, VBSP has actively propose  Party Committee, local government, People's Committees of provinces, districts and communes to entrust budget capital to VBSP for lending to poor households and other policy beneficiaries.

The mobilized capital has been promptly transferred to remote and extremely disadvantaged communes, to each poor and ethnic minority households through the VBSP's network of Commune Transaction Points. Every Commune Transaction Point in Lam Dong has arranged specific transaction time for each Savings and Credit group and ensure compliance with recommendations from Ministry of Health during transactions.

Most poor households and ethnic minority households in Lam Dong has used loans for right purposes and achieve obvious economic results. Their lives are constantly improved. Many villages and communes prospered, getting out of the list of extremely disadvantaged areas. A good example is Da Ron commune, Don Duong district, with more than 80% population being ethnic minority households, by using policy capital, poverty rate here has been rapidly reduced from 27% (in 2018) to 9.2% (by the end of 2020) and reached new rural criteria one year ahead of schedule.

Since receiving preferential loans from VBSP, the economic life of Kho and Chu Ru ethnic people in Da Ron commune have changed rapidly. Many households get rich buy using loans to invest in raising livestock and poultry and transform hills into vegetable and fruit gardens. During the current complicated situation of the Covid-19 epidemic, policy capital is still disbursed in a timely manner, helping ethnic minorities to overcome difficulties and reduce poverty sustainably.

The South Central Highlands of Lam Dong has been moving strongly with remarkable contribution of policy credit capital. VBSP in Lam Dong province shall continue to focus on mobilizing resources, fully and timely channeling capital to meet the needs of the poor and other policy beneficiaries especially ethnic minorities to develop production and business, contribute to sustainable poverty reduction and new rural development.

Dong Du