After 5 years of construction, the capital of the Farmer Support Fund of Dien Khanh District (Khanh Hoa) has doubled. Thanks to this capital, more than 900 members have resources to develop the family economy and increase income.
After 5 years of construction, the capital of the Farmer Support Fund of Dien Khanh District (Khanh Hoa) has doubled. Thanks to this capital, more than 900 members have resources to develop the family economy and increase income.
Meeting capital needs for hundreds of members
Having borrowed 50 million VND from the People's Union Fund in early 2021, Bui Thanh Luc (Da Mai village, Dien Tan commune) invested in renovating a mixed garden to plant hundreds of grapefruit and orange plants. Currently, the plants are growing well. Luc is one of 10 members of Dien Tan Commune Fruit Cooperative Group. The group's project was lent 500 million VND by the Central People's Union Fund. The members of the group have a production area of about 16ha, some have grown fruit trees for many years, some have just started planting. Thanks to this capital, the members renovates the garden, bought seedlings, fertilizers and invested in an automatic irrigation system.
The project of Dien Tan Commune Fruit Planting Cooperative Group is the project with the highest loan amount ever in the district. According to a report of the District Farmers' Association, from 2016 to the end of May 2021, the People's Cooperative Fund at all levels provided loans to 95 projects with 906 members. In which, there are 8 projects with central capital with outstanding loans of 3.1 billion VND; provincial capital has 11 projects, outstanding loans of 5.4 billion VND; district capital for 23 projects, outstanding loans of 5.4 billion VND; basic capital of 52 projects, outstanding loans of more than 4.8 billion VND. Currently, the district People's Union Fund is managing more than 10.4 billion VND, district capital of which is more than 6.4 billion VND. Compared to 2015, the district's capital under management has doubled. The People's Union Fund has made practical contributions to the restructuring of crops and livestock in the locality, applying science and technology to increase production scale and promote market-oriented production. As a result, farmers' incomes are improved and living standards are improved. Some models of capital have high economic efficiency and are being replicated such as the model of growing coriander in Dien Phu commune giving 4 times higher profits than rice; growing green-skin grapefruits in Dien Xuan commune and Dien Dong commune; growing mushrooms in Binh Loc commune; growing bonsai in Suoi Tien commune; growing sugarcane in Dien Phuoc commune; raising chickens in Dien An and Dien Lac communes…
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Improving fund management capacity
Nguyen Dung - Chairman of Dien Khanh District Farmers' Union said that, implementing the project "Innovating and improving the operation efficiency of the People's Cooperation Fund", from 2016 up to now, the district People's Union Fund has developed well. The district-level People's Cooperative Fund's capital increased by 100% compared to before 2016. The lending method was renewed, from household to group lending and gradually shifting to project-based lending associated with cooperative group building. The scale of capital investment for a project has also been increased, from 200 million VND to 500 million VND. The People's Union Fund at all levels lends to the right subjects and for the right purposes. The borrowers have used the capital efficiently. Many models have proven to be effective, bringing in income from products, contributing to job creation, income growth and poverty reduction.
The district sets a target that by 2025, the district-level People's Union Fund's capital will reach 10 billion VND; 100% of commune-level farmers' associations mobilized to create capital for the People's Co-operative Fund; 80% of the units reached 300 million VND or more.
In order to develop the fund in the coming time, the District Farmers' Association has directed all levels of associations to continue to develop and improve the performance of the People's Cooperative Fund, expand the capital scale, and effectively support the capital needs of its members. In particular, the association will focus on financial management and fund inspection and control; regularly pay attention to fostering, improving capacity, qualifications and professional training for the staff of the association. At the same time, every year, summarization of the People's Cooperative Fund should be organized to learn from and replicate effective production models from the fund's capital.
Mai Hoang
Translated by T.T
