VBSP’s inclusive finance helps farmers get rich

(VBSP News) Farmers’ Association of Truong Long Commune, Phong Dien District (Can Tho City) has implemented many practical programs and activities to support farmers in production development. In particular, VBSP’s inclusive finance is still an effective way to help farmers escape from poverty, stabilize their lives and get rich.

Many farmers in Tra Long commune borrowed loans from VBSP to plant fruit trees for high income

Being a purely agricultural commune, the lives of people in Truong Long commune still face many difficulties, so they need capital to invest in production development. Therefore, the Commune Farmers' Association has always paid attention to managing and promoting the effectiveness of loans, helping farmers escape from poverty sustainably.

Vice Chairman of the People's Council of Truong Long commune – Mr. Vo Anh Phuong shared: “The loans from VBSP and the Farmers' Support Fund help many farmers to get loans with preferential interest rates to invest in production development and restructuring plants and livestock”.

Mr. Le Van Thanh's family in Truong Tho 1 hamlet, Truong Long commune is one of the households that got loans for effective economic development. Previously, Mr. Thanh's family was a poor household. Thanks to a loan of VND 50 million from VBSP and VND 3 million from the Farmers' Support Fund, he was able to improve gardens and switch to planting high-value crops. Mr. Thanh shared: “Thanks to the loans, I invested in renovating the garden to plant almonds". Almond orchards are harvested all year and easy to take care. With 3 public gardens specializing in almond cultivation, every half month, Mr. Thanh harvests 200-300kg of fruit and sells it for VND 3,000 - 4,000/kg.

Mr. Nguyen Van Can in Truong Tho 1 hamlet is also one of the members of the Farmers' Association who used loans effectively. With VND 56 million from the Farmers' Support Fund and VBSP, Mr. Can rented more land and changed crop structure. Mr. Can confided: “In the past, I planted guava with pink flesh. Due to precarious prices, I gradually shifted to growing Thai oranges and jackfruit. With VBSP’s inclusive finance, I rented more land and invested in seedlings and fertilizers. Now, orange and jackfruit orchards are also starting to be harvested. On average, I earn about VND 200 million/year”.

Farmers’ Association of Truong Long commune has 20 savings and credit groups with a total outstanding loan of over VND 27 billion. The loan is allocated to the right beneficiary, contributing to improving the quality of loans and effectively using the loans. In 2019, Truong Long Farmers' Union cooperated to organize 2 training classes on fruit tree planting, attracting 70 members to participate.

These practical activities have helped many members to build new production models, gradually stabilizing their lives. Thereby, more and more farmers are joining the Farmers’ Association, actively contributing to improving the quality of life and making Farmers’ Association activities become more organized.