Pho Yen City Social Policy Bank urgently lends capital to people to invest in production and business.
Statistics show that the poverty rate of the whole province according to the multidimensional poverty standard for the period 2022-2025 accounts for 6.14%. Typically, the mountainous district of Vo Nhai, where more than 70% of the population are ethnic minorities, also achieved an average annual poverty reduction of more than 2%, exceeding the set target.
This impressive result reflects the drastic direction and management of Party committees and authorities at all levels, the participation of the entire political system, the joint efforts of many organizations, businesses, individuals, etc., especially the focus on implementing Directive No. 40-CT/TW dated November 22, 2014 of the Secretariat on strengthening the Party's leadership over social policy credit, which has brought about clear results, opening up opportunities for poverty reduction and rapid and sustainable poverty escape for ethnic minorities in the northeastern midland region.
Replicating typical examples
We visited the family of Ms. Le Thi Tuyet in Ap Che hamlet, Van Han commune, Dong Hy district. Previously, they were in very difficult circumstances, with unstable income and their economy only depended on a few acres of old tea varieties.
In 2019, she boldly borrowed 50 million VND from the Social Policy Bank to convert, improve the land, and take care of new tea varieties according to VietGAP production process. After three years, the tea garden is green, productive, and brings in an income of more than 200 million VND per year.
After escaping poverty, in 2024, Ms. Tuyet continued to borrow 100 million VND for newly escaped poverty households to have more resources to invest in expanding production facilities.
Policy capital helps households in Thai Nguyen develop the economy and improve their lives.
In Pho Yen city, the family of Mr. Nguyen Van Thuyet in Ha Vu 1 hamlet (Van Thai commune) is also known by many people as an example of escaping poverty and improving the quality of life thanks to policy loans. His family has used hundreds of millions of dong in policy loans to build a civil carpentry workshop, which has not only made high profits, escaped the list of poor households, but also created jobs for 5 local workers with an average income of 10 million dong/person/month.
“In difficult times, timely access to preferential capital from the State has given my family more motivation to develop the economy and escape poverty quickly and sustainably,” Mr. Thuyet shared.
Similarly, in the mountainous district of Dinh Hoa, Ms. Ban Thi Minh's family in Dong Dinh hamlet (Kim Phuong commune) also had access to policy loans. In 2021, her family borrowed 50 million VND from the near-poor household capital to plant an additional 1 hectare of cinnamon.
Taking us to her family's cinnamon hill, Ms. Minh excitedly showed off the 4 hectares of cinnamon planted since the 1990s. Up to now, the trees have been harvested, just by selling cinnamon leaves, dried cinnamon bark and even cinnamon wood after peeling, the family has earned more than 80 million VND/year.
Many tea growing households in Thai Nguyen have escaped poverty and become rich thanks to preferential capital policies from the State.
Regarding the examples of poverty alleviation thanks to policy credit capital, Mr. Truong Anh Tu, Chairman of the People's Committee of Kim Phuong Commune affirmed: Policy credit capital reaches the right beneficiaries, helping households use capital for the right purposes and with high efficiency. Thereby, it contributes significantly to the implementation of the goal of sustainable poverty reduction, ensuring social security and building new rural areas of the commune.
Strengthening the Party's leadership in the new period
In fact, policy credit capital really creates a “push” to change the face of the homeland and in implementing sustainable poverty reduction and ensuring social security. The journey is full of difficulties, but those working in policy credit are always united to overcome, persistent, and dynamic to help people reduce poverty, escape poverty sustainably, and build a new life.
According to Nguyen Quang Thinh, Director of the Thai Nguyen Provincial Social Policy Bank, the most favorable point in the process of implementing the Resolutions and Directives of the Party and the State is that all units of the Social Policy Bank system in the area have regularly received attention, direction, and created favorable conditions in all aspects for policy credit activities from Party committees and authorities at all levels.
Accordingly, the Provincial People's Committee directed the financial sector to advise and prioritize additional capital sources for the Social Policy Bank to lend to poor households and other policy beneficiaries, while also providing budget support for equipment and purchasing means and machinery for work, contributing to improving the efficiency and operational capacity of policy credit in the area.
By the end of the first quarter of 2025, the local budget capital entrusted to the Social Policy Bank since Directive No. 40 was issued reached more than 352 billion VND, accounting for 6.75% of the total capital, an increase of more than 93 billion VND compared to the end of 2024, contributing to bringing the total operating capital of Thai Nguyen Social Policy Bank to more than 5,222 billion VND, an increase of 121 billion VND compared to the end of 2024.
Policy credit in the period of 2014-2024 has helped more than 307,380 poor households and other policy beneficiaries to borrow capital from the Social Policy Bank. In the first quarter of 2025 alone, it helped 586 poor, near-poor, and newly escaped-poverty households to borrow capital, 1,553 workers to have stable jobs; built more than 5,500 clean water and environmental sanitation works in rural areas; built 60 social housing houses and 39 people who had completed their prison sentences were able to borrow capital to develop production and business.
By March 31, 2025, the total outstanding debt of policy credit programs in the province reached more than 5,200 billion VND with more than 90,000 households still having outstanding debt, an average of nearly 60 million VND/household.
Meeting of the Social Policy Bank of Pho Yen city with associations and unions in charge of entrusting policy loans to discuss tasks for the second quarter of 2025.
The results of implementing Directive No. 40-CT/TW have confirmed that this is the correct policy of the Party and State, meeting the aspirations of the people, strengthening the people's trust in the Party and State. This also contributes to achieving the goal of rapid and sustainable poverty reduction; building new rural areas; ensuring social security; political stability, security, national defense; narrowing the gap between rich and poor regions.
Promoting the achievements, in the coming time, the Social Policy Bank system will continue to effectively implement Directive No. 39/CT-TW dated October 30, 2024 of the Secretariat on improving the effectiveness of social policy credit in the new period; maintaining its role as a bright spot and pillar in the cause of social security and equity.
DONG DU-VIET PHONG
Source: https://nhandan.vn/thap-sang-khat-vong-thoat-ngheo-o-thai-nguyen-post889941.html
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