Over the time of implementation in Van Ninh District (Khanh Hoa), the policy credit program for poor households, near poor households and households that have just escaped from poverty has helped more households develop production and business.
Over the time of implementation in Van Ninh District (Khanh Hoa), the policy credit program for poor households, near poor households and households that have just escaped from poverty has helped more households develop production and business.
Dinh Thi Thu Lai's family (Xuan Dong Hamlet, Van Hung Commune) is a near-poor household, whose economy is mainly based on breeding and her husband’s iron work. Borrowing nearly 30 million VND from Cam Lam District transaction office of the Bank for Social Policies, her family raised cows and pour in iron work to earn living, breed children and pay debt for the bank by instalment.
Also being lent 100 million VND, Ho Thi Ai Lien's family (in Xuan Dong Hamlet, Van Hung Commune) had capital to invest in producing salt, breeding cows and goats. Then, their living has been improved now.
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According to Nguyen Thanh Long - Director of Cam Lam District transaction office of the Bank for Social Policies, under Decision No. 12 of the Bank for Social Policies, taking effect from March 2016, the beneficiaries ofcapital sources are poor households, near poor households, and households who have just escaped from poverty. Maximum loan is 100 million VND. Loan term is 10 years for poor households and near poor households, and 5 years for households who have just escaped from poverty. The lending interest rate is relatively low: 6.6% per year for poor households, 7.92% per year for near poor households and 8.25% per year for households that are just out of poverty. Conditions for disbursement are also quite favorable when the borrowers only need to have production and business plans and no debt at the bank. Implementing the Decision 12, Cam Lam District transaction office of the Bank for Social Policies has deployed to communes, towns and savings groups to popularize to people having loan needs. Up to now, 12 cases in the district have been given loans with 1.7 billion VND in total. The maximum loan of 100 million VND and the loan term of 10 years have met the demand borrowers, helping them feel assure of production and business, and partlt limit illegal lending in the locality.
In the coming time, Cam Lam District transaction office of the Bank for Social Policies will continue coordinating with localities, branches and organizations in the district to promote propaganda so that more people can know about the program, thereby being able to access the capital. At the same time, Cam Lam District transaction office of the Bank for Social Policies continues reviewing and checking loan applicants before disbursing; check the capital use of borrowers after 30 days from the date of disbursement.
Thanh Hai
Translated by T.T
