"Green credit" accompanies farm economy

Promoting the role of accompanying and supporting agriculture, rural areas and farmers to develop sustainably, agricultural and rural credit has been contributing to promoting the development of effective farm economic models in many localities in the province, including Bao Thang commune.

Visiting the comprehensive farm of Mr. Pham Minh Quyen's family in Bao Thang commune, many people were also amazed by the scale as well as the scientific operation to maximize the benefits from the farm. The farm takes free-range chicken farming as the mainstay with 90,000 chickens sold each year, in addition to raising specialty aquatic products and selling by-products from farming. Starting with small-scale farming, his family later boldly borrowed 500 million VND from the bank to expand the scale. Now, Mr. Quyen's family farm has a profit of over 200 million VND per year, creating jobs for 3-4 local workers.

Mr. Pham Minh Quyen shared: At first, I only dared to raise livestock on a small scale, with a profit of less than a few tens of millions of VND per year. After that, I learned about preferential policies, and with support from agricultural and rural loans from the Bank for Agriculture and Rural Development ( Agribank ), my family decided to expand the scale, and now has 10 large-capacity barns.

Currently with a debt of 500 million VND from Agribank Bao Thang Branch, the breeding horse farm of Mr. Trinh Van My's family in Bao Thang Commune is affirming the right direction with a profit of over 200 million VND/year. Mr. My's family farm has 15 breeding mares, with relatively stable output. The reason Mr. My chose horse breeding as the main economic development direction of his family is because this is an easy-to-care-for animal, with few diseases, low feed costs, low risks, and stable prices. Previously, Mr. My also raised pigs, chickens, and aquatic products, but all did not achieve the desired results. In 2022, he decided to switch to horse breeding, a decision supported by agricultural and rural credit.

Outstanding agricultural and rural loans according to Decree 55/ND-CP in Bao Thang commune after the merger are 535 billion VND with 1,437 borrowers, including 69 farms, outstanding loans of 25 billion VND. The disbursement conditions are simple, the borrowers of agricultural - farmer - rural loans are given all favorable conditions in terms of procedures and policies by Agribank Bao Thang Branch to access capital sources, not to let the merger interrupt the process of accessing agricultural and rural credit of the people.

Mr. Do Dinh Long, Deputy Director of Agribank Bao Thang Branch, said: Along with supporting people with initial loans, Agribank Bao Thang Branch also creates conditions for households to borrow revolving loans, continue to borrow more capital for production and livestock farming. Thanks to that, people can be more proactive in developing their family economy.

To ensure that capital reaches the right people and for the right purposes, Agribank Bao Thang Branch has closely coordinated with local socio-political organizations to organize public and transparent evaluations to monitor the use of capital, ensuring that funds are used for the right purposes and that there is no loss.

Up to now, the outstanding loan balance entrusted through associations has reached 335 billion VND, accounting for 62.6% of the total outstanding loan balance in the commune. Agribank Bao Thang Branch has also actively deployed electronic banking services and cashless payments to create the best conditions for people to access capital conveniently.

As a companion to farmers, agricultural and rural credit has played a good role in promoting the development of local agricultural economies, creating opportunities to multiply large-scale and effective farm models. In addition, in the coming time, with the regulation of increasing the loan limit without collateral, it will create more opportunities to expand the scale and increase the efficiency of agricultural economic models in many localities in the province.

Thanks to practical and effective solutions, Agribank Bao Thang Branch has become a bridge to effectively bring credit capital to serve agriculture, rural areas and farmers in the area, contributing to promoting the development of farm economy in the area.

Source: https://baolaocai.vn/tin-dung-xanh-dong-hanh-voi-kinh-te-trang-trai-post650069.html