Meeting the needs of production and business expansion

Chủ nhật - 26/05/2019 06:10 245 0

From March 3, 2015 to present, the Social Policy Bank of Phu Yen branch(VBSP Phu Yen) has disbursed 336 items with a loan of over VND 50 million. Thissource of capital has great significance, meeting the needs of production andbusiness expansion of poor households and other policy beneficiaries in theprovince.

Disbursement of capital at the transaction point of An Chan commune, Tuy An district

Recently,VBSP Phu Yen has organized a delegation to check the use of capital bydisbursed households for over 50 million VND in localities. Initially, thedelegation stated that most of them used capital for the right purpose.

Previously,Nguyen Thi Minh Tam's family in Phu Hoi village, Xuan Phuoc commune (Dong Xuandistrict) was a near poor household. With the loan of VND 50 million from theTransaction Office of Dong Xuan district, she and her husband invested in buyingcows to raise. Not only did she use garden land to grow grass for cows, shealso participated in training classes to learn more about cow care and diseaseprevention techniques. Thanks to that, the herd was fast growing, healthy andhas many calves. By the end of the year, her family sells some cows to repaythe bank. With a little capital left, Ms. Tam bought more land to plant acaciaand expand production.

“Recently, throughthe leader of saving and borrowing, I learned that VBSP has raised the lendingrate for poor households, near poor households, households that have justescaped from poverty and provided loans for socio-economic development inethnic minority areas, difficult mountainous areas with the amount to VND 100million. Seeing that I was qualified and needed capital to continue production,I applied for a loan of 80 million VND to the program to escape poverty.Looking at the 5 cows in the barn, all kinds from big to small, formed from theloan, I told myself to take good care of the cows, pay the interest, repay theloans on time to avoid the trust of VBSP and WU staff that had introduced andapproved me for a loan”,said Ms. Tam.

According toVBSP Phu Yen, raising the maximum lending level for poor households, near poorhouseholds, newly escaped from poverty and providing loans for socio-economicdevelopment in difficult ethnic minority and mountainous areas from VND 50million / Households up to 100 million VND / household that do not have toguarantee loans are implemented from March 2019 according to Decision 12 /QD-HDQT of VBSP's Board of Directors.

Since thedeployment so far, VBSP Phu Yen has disbursed 336 items with a loan of over VND50 million to people all over the province with a total debt of nearly VND 24.5billion. In particular, the locality has many loans of more than 50 milliondong, Dong Xuan district with 241 dishes, followed by Song Cau town with 70items, Son Hoa district with 18 items ... There are 7 households that canborrow with the maximum amount of VND 100 million, the average loan is VND 70million / household.

Mr. Ho VanThuc, Director of VBSP Phu Yen said: This is a new policy, the high level ofre-lending so VBSP requires the management board of savings and loan groups tocheck and evaluate the ability of using capital of households before proposingand commenting on loans. Besides, credit officers who manage the area also haveto check 100% of households that need to borrow more than VND 50 million,ensuring that the right people and households borrow effectively. Afterlending, credit officers, mass association officials as well as the managementboard of savings and loan groups must regularly check, monitor and request borrowersto pay interest, repay divergent loans on time to reduce pressure to repay debtwhen due. The bank will coordinate with departments, branches, massorganizations, local authorities to orient production and business models tobring high economic value for people to apply to promote capital efficiency.

Source:Phu Yen Newspaper
Translatedby HAI LOAN

Từ khóa: Meeting the needs of production and business expansion