Since the Prime Minister’s Decision 15 on preferential credit loans for the marginally poor took effect, many marginally poor households have been provided opportunities to expand their production...
A 2012 survey showed there were 1,138 marginally poor residents in Khanh Son District, Khanh Hoa Province. Most of them lacked capital for their production.
Therefore, crop loss or sickness is likely to take them back to poverty levels, wiping out all gains and effort from the previous time.
Since the Prime Minister’s Decision 15 on preferential credit loans for the marginally poor took effect, many marginally poor households have been provided opportunities to expand their production and thus their living standards have improved.
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| Khanh Son Bank for Social Policies disburses loans to marginally poor residents. |
Luong Thi Lien (Ma O Village, Son Trung Commune) says her family has just been out of the poverty but still met great financial difficulties. She did not have enough money for fertilizers for her 5ha farm of fruit trees, coffee plants and acacia, so she did not have good crops.
In addition, her husband was sick for many years. All her savings went into hospital bills, but her husband could not recover and died. She was broke after his death.
Thanks to a VND20 million loan under the referential loan policy, she has invested in her farm and husbandry. “Everything has gone smoothly now,” she says.
A VND15 million preferential loan has helped Cao Minh Hoang, Son Trung Commune to begin husbandry. He has spent VND12 million on cows and the rest on pigs.
Most of preferential loan sources offered to marginally poor households have disbursed through women’s associations, farmers’ associations, etc.
According to Bui Thi Hoa Phuong, Deputy Chairwoman of Son Trung Commune Women’s Association, the Bank for Social Policies has disbursed the loans to 58 marginally poor households in Son Trung Commune.
The loans have been invested in cultivation (durians, purple sugar cane, pepper) and husbandry.
Tran Van Khe, Director of Khanh Son Bank for Social Policies says, “The demand for preferential loans is higher than the fund allocated to the district. 165 marginally poor households have been offered preferential credit worth VND3.5 billion in total.
Other marginally poor families are still in demand of loans to invest in their production. We have suggested Khanh Hoa Provincial People’s Committee allocate additional VND2 billion worth of loans offered to marginally poor households.”
The initiative is expected to help more poor people to lift themselves out of poverty and achieve sustainable development.
N.T
