Hanoi (VNA)Credit for social policy beneficiaries has contributed significantly to narrowing the gap between the rich and the poor, reducing unemployment rate, fulfilling criteria for building new rural areas and developing local economy.

Thanks to preferential loans, veteran Le Anh Hung escapes from poverty, get rich and has three children who are university graduates. (Photo: VietnamPlus)

 Binh Thuan central province, few think their children will study in university. Thanks to loans from the Vietnam Bank for Policy Policies, thousands of households have escaped from poverty, with their children not only receiving vocational training but also attending prestigious universities in the fields of pedagogy, banking, and medicine and health care.

“Nurturing” human resources…

When being asked about Mien, one of the typical poor people in the commune, people here said her family is very poor but their will is great. Her three children have pursued tertiary education with loans from the Vietnam Bank for Social Policies. The one-floor wooden house is quite old, as if it is telling a story about the situation of Mien’s family.

Mien said her family has five sao (each sao = 360sq.m) of rice fields to send rice to her children. But recently the fields were flooded so badly that the rice was all gone. She had to borrow rice from relatives to send to them.

 “When our children passed the university entrance exams, we thought we could not afford their study, but thanks to the loan of 88.6 million VND from the bank’s credit programme for students, we have taken our children to university. The poverty cannot quench the hopes and dreams of young people in the impoverished countryside” shared Mien.Leverage of economic development

Implementing Action Programme 33 of the provincial Party Committee’s Standing Board on the implementation of Directive 40 of the Party Central Committee on strengthening the Party leadership over social policy credit, the authorities of districts, towns and cities across the province has paid attention to allocating capital from the Vietnam Bank for Social Policies for poor people and policy beneficiaries.social policy credit has significantly contributed to narrowing the gap between rich and poor, reducing unemployment, fulfilling criteria for building new rural areas, and playing an important role in stabilising and developing the local economy. Especially, outstanding loans for ethnic minority households have so far reached 337 billion VND.

Staff at the Vietnam Bank for Social Policies work with local people. (Photo: VietnamPlus)

Spreading credit capital

In remote Phu Quy island, preferential credit programmes have helped poor people upgrade boats, expand cages for aquaculture and buy more commodities… The lives of many households have been better.

Pham Anh Duc, Director of the Binh Thuan branch of the Vietnam Bank for Social Policies, said over the past 5 years, the branch has disbursed 3.15 trillion VND for over 140,000 poor households, near-poor households and other policy beneficiaries to develop production and business.poor households have received support to build their houses; and nearly 10,000 households living in disadvantaged areas have got loans to invest in production and business./.