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Updated: 2018-12-25 11:22:51

Wherever the poor, there’s presence of VBSP

(VBSP News) Back to the highland after a full year, we visit a commune transaction point in Gia Lai - one of the five provinces in the Central Highlands. Witnessing the last commune transaction session in 2018 of VBSP of Chu Pưh district in Nhon Hoa town with ethnic minority people, enthusiasm of VBSP staff to help the people overcoming difficulties can be sensed.

General Director of VBSP - Duong Quyet Thang worked with key managers of VBSP Gia Lai provincial branch and district transaction offices


"Mobile Bank" of the poor

It was early Sunday morning but credit officers of district VBSP have presented at the district branch of VBSP to get ready for the transaction session with the people. Leader of the Commune transaction team Phan Thi Hien confided: "According to regulations, VBSP held a transaction session with people in the commune on a fixed date every month. Today is the transaction day. Except for Tet holiday, the transaction day is never canceled, whether it's a holiday, a Saturday, or a Sunday. We work in district VBSP, although communes are divided to each staff to manage, we are still members of transaction teams to other’s commune, thus, we rarely have weekend with our families”.

 At 7:30 am the Commune Transaction Point became bustling, some VBSP staff checked machinery for the last time before transaction session, some took time to answer questions of customers.

 Meeting Mrs. KpảH Phe in Plei Djriet hamlet, Nhon Hoa town, Chu Pưh district inside the office of Commune People's Committee, she said she borrowed VND 50 million from VBSP. Her family was very poor with a little area of land and no savings. With VBSP’s loan, she managed to plan 1800m2 of pepper and bought 02 cows for raising." VBSP staff go to our place so we don’t have to spend much travelling time and cost to complete procedures, receive disbursement, make interest and principal payment and deposit savings. Besides, I was instructed with how to use capital effectively" Mrs. KpảH Phe said.

 Tổng Giám đốc DÆ°Æ¡ng Quyết Thắng đang trao đổi với chị Kpă HThứi - Tổ trưởng Tổ tiết kiệm và vay vốn thôn Hrãi Dõng 1

VBSP General Director Duong Quyet Thang talked with Mrs. Kpă HThứi - the leader of SCG Hrãi Dõng 1 hamlet

As leader of SCG in Hrãi Dõng 1 hamlet, Nhơn Hòa commune, Mrs. Kpă HThứi appreciate the commune transaction model of VBSP “VBSP brought transaction to the commune, which helped 58 members of our group to speed up loan steps from choosing eligible borrowers, filling in dossiers to collecting interest, principal, making savings deposits. In the past, without commune transaction session, we have to go to district office at least twice a month to submit dossiers and interest and savings of group members to VBSP”, Kpă HThứi shared. In addition, group leader is not allowed to collect debt principal so group members used to go to VBSP district to pay. Meanwhile, the road from the village to the center of the district is far away, traveling is inconvenient and expensive. “Since the bank come to do transaction here, we have saved a lot of time, expenses and effort to travel”, Kpă HThứi told VBSP’s General Director Duong Quyet Thang at his visit to the commune transaction point.

Kpă HThứi also asked VBSP to review and report to the Government to timely raise loan limit to poor households and increase capital to create jobs for ethnic minority people in the village in particular and the whole country in general.

Tổng Giám đốc Dương Quyết Thắng trao đổi với Lãnh đạo UBND xã và đại diện các tổ chức hội, đoàn thể thị trấn Nhơn Hòa

VBSP’s General Director Duong Quyet Thang discussed with Nhon Hoa Commune People's Committee and representatives of mass organisations

Sharing information with VBSP's General Director at the transaction session, Chairman of Nhon Hoa Commune People's Committee, Nguyen Huu Duong said that the life of ethnic minority people in villages and hamlets was still very difficult. Therefore, commune transaction points well facilitated borrowings of the people. Moreover, through commune transaction activities, people are able to meet, share experiences on using capital and doing business effectively. Thus, up to now, the whole town has 1,049 households with outstanding loans of nearly VND 37 billion. "I myself am a member of the BOD Representatives of VBSP at district level, it’s a great responsibility," said Chairman Nguyen Huu Duong.

Wherever the poor live, there’s presence of VBSP

Quickly reporting to VBSP's General Director right at the commune transaction point, Deputy Director of VBSP in Chu Puh district (Gia Lai) Ngo Tran Hau said: “The whole district has over 8,000 household borrowers with total outstanding loans of VND 232 billion. In addition to the allocated capital from VBSP headquarters, VBSP district has recently mobilized nearly VND 20 billion from local people for policy credit activities”.

Deputy Director of VBSP in Chu Puh district added: The whole district had 09 communes; VBSP has "covered" with 09 transaction points. Every month, on fixed days, the transaction team included a leader and 03 tellers fully equipped went to Commune People's Committee office to do banking transaction with the people. Policies, regulations of the bank, lending interest rates were always publicized at the offices of the People's Committees for people’s information. At the same time, VBSP district assigned credit officers and group leaders to each family to communicate as well as urge households to pay interest and deposit savings. Those customers whose debt to be due would receive notification 2 to 3 months in advance for preparation.

Also according to VBSP’s Deputy Director of Chu Puh -Ngo Tran Hau district, after transactions with people, the commune transaction team organized briefings with authorities, staff of mass organisations and leaders of SCGs to guide and deploy new guidelines and policies, solve problems and difficulties related to collection of principal and interest etc,. In addition, in any session with high debt collection of over VND 1 billion, the transaction team would seek approval of managers to open secondary transaction session after 3 to 5 days to disburse loans to help local poor households and policy beneficiaries access to preferential capital in soonest time. "In the coming time, we will review the number of local people with demand for loans; at the same time, strengthen and improve the quality of operation of transaction points in the commune to facilitate the poor and policy beneficiaries to access preferential capital"said Mr. Ngo Tran Hau.

Từ vốn vay 30 triệu đồng của NHCSXH, gia đình anh chị Siêu My ở thôn Cư PêR, xã Ia Hla, huyện Chư Pưh cải tạo thành công 4.000m2đất trồng cà phê và hồ tiêu

From VBSP's loan of VND 30 million, Mr. Sieu My and his family in Cu PeR village, Ia Hla commune, Chu Puh district successfully renovated 4,000m2 of land to grow coffee and pepper.

Strengthen monitoring and supervision, enhance communication

Leaving the Commune Transaction team at noon when they were still busy doing the work. The VBSP mission came to a meeting with directors of VBSP Gia Lai province and 16 transaction offices.

VBSP’s General Director and the mission from VBSP headquarters appreciated efforts of VBSP Gia Lai province in channeling VND 4,167 billion to 139,496 poor households and ethnic minority people live in villages in remote areas and border areas.

VBSP’s General Director also requests the branch to enhance monitoring, receiving feedback of borrowers, cooperate with local authorities to ensure providing loans to right beneficiaries. “Policy credit must pushed back “black credit" in remote and ethnic minority areas and any poor household being eligible and want to borrow must be provided with loans," the General Director instructed. He also stated that VBSP would propose the Government to consider raising loan amount. 

VBSP Gia Lai province’s preferential credit, in 2018, was provided to 9,500 turns of poor households, 7.846 near poor households and 8,707 turns of just escaped from poverty households for production and business, creating jobs for 2,943 workers, 3,134 continuing to go to school, buidling houses for 353 poor households and renovating 23,999 works to supply clean water and rural sanitation to meet national standards, etc. Policy credit contributed to reducing the poverty rate of Gia Lai province so far to 10.04%, decreased by 3.3% compared to 2017.

 Viet Hai




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