Supplying most of loans in agriculture and rural development, the People's Credit Fund of Cam Lam District has contributed in impulse local farm products.
Supplying most of loans in agriculture and rural development, the People’s Credit Fund of Cam Lam District has contributed in impulse local farm products.
Credit used effectively
Taking us to see their mango orchestra with a lot of fruits, a local couple in Bai Gieng 2 Hamlet, Cam Hai Tay Commune, Cam Lam District told us that mangos in the district will be harvested in one month. Such a mango tree can give about 2 tons of fruits. Current mango price is about VND18,000/kg. They said that owing to the loans borrowed from the district People’s Credit Fund, they have capital to grow trees and enriched.
Five years ago, the 10,300 sq.m. garden of Pham Van Cat, in Tan Sinh Tay Hamlet, Cam Thanh Bac Commune was empty, but now it has become an orchestra with mangoes, jackfruits, grapefruits, etc. He has also invested in building a chicken farm with more than 1,000 chickens. His prosperity is partly supported by the loans from the district People’s Credit Fund.
|
Fund focusing on farming
Cam Lam District People’s Credit Fund, established since 1997 at 120 Truong Chinh Street, Cam Duc Township, operates in Cam Duc Township and communes, namely Cam Hai Tay, Cam Hai Dong, Cam Hiep Bac and Cam Thanh Bac of Cam Lam District. Accompanying with. Accompanying farmers in the district over 22 years, the People’s Credit Fund and other funds have partly developed local farm products, especially mango trees.
According to Le Thi Thanh Nhan, director of Cam Lam District People’s Credit Fund, till June 18, total operating capital of the fund has been VND72 billion; credit balance has been VND47 billion. 95% of the credit has supported farming, and the rest has been for consumption and aquaculture. Quality of the credit has been rather good, there have been no bad debts. At present, short-term lending interest rates range from 7.5% to 9%/year; lending interest rates of medium and long terms range from 12% to 13.9%/year. The fund has supported farming and the rural areas in the district.
According to Do Trong Thao, deputy director of the State Bank – Khanh Hoa Branch, among four people’s credit fund in the province, Cam Lam District People’s Credit Fund has the biggest operating capital. Cam Lam District People’s Credit Fund has high growth rate and its credit quality has been ensured. The fund needs to coordinate with the local authority to do investment for the local socioeconomic development and expand consumption lending to partly reduce illegal lending.
Nam Du
Translated by T.T
