Policy credit changes the mountainous areas of Bac Kan

Focus on sustainable poverty reduction

Bac Kan is a mountainous province with diverse terrain, with more than 80% of ethnic minorities (DTTS) living there. In recent years, the entire political system from the province to the grassroots has been involved, focusing on leadership, direction, focusing on implementing socio-economic development programs, building new rural areas, sustainable poverty reduction, supporting people to develop the economy to gradually increase their income. The movement to develop production and escape poverty has been implemented by all levels and sectors, including the important and effective contribution of the VBSP.

Director of the Bac Kan Provincial Bank for Social Policies branch Ha Sy Con said: With the operational orientation since its establishment (2003) until now, the branch has always closely followed the policies and resolutions of the Party and the State, receiving the attention and direction of the superior bank and local leaders. Thereby, effectively implementing appropriate solutions, mobilizing large capital sources, unblocking policy capital flows, practically contributing to helping people reduce poverty and improve the quality of life.

As of March 31, the provincial branch of the VBSP has implemented 12 preferential credit programs of the Government with a total capital of VND 3,528 billion; an increase of VND 22.5 billion compared to the end of 2024.

The results demonstrate the fact that Party committees and authorities at all levels have thoroughly grasped the content of Directive No. 40-CT/TW dated November 22, 2014 of the Central Party Secretariat. Concentrate capital sources originating from the State budget on one unit, the VBSP, and supplement local budgets entrusted through the VBSP to lend to poor households and other policy beneficiaries.

To date, the capital entrusted from the local budget has reached more than 137 billion VND. Preferential capital is promptly transferred to each beneficiary through the Commune Transaction Point system with the network of Savings and Loan Groups in villages and residential clusters, helping people have capital to proactively go to the fields and forests in the production crop, creating a source of income.

Unblocking credit flows

The flow of policy credit has always been unblocked in this land rich in traditions. The revolution has added a bright color to the socio-economic picture in Bac Kan, especially in the most difficult areas such as remote areas and ethnic minority areas.

In the past 5 years, the lending sales of the branch have reached more than VND 4,836 billion with 97,276 poor households and policy beneficiaries receiving loans, contributing to the implementation of the Resolution of the Bac Kan Provincial Party Committee on poverty reduction, reducing the poverty rate by an average of 2 - 2.5%/year. Poor districts and communes with special difficulties will decrease sharply by 4 - 5%.

Mr. Nong Van Nghiep's family in Na Let village, Yen My commune, Cho Don district is a poor household. In 2020, his family was supported with a buffalo from the National Target Program for Sustainable Poverty Reduction. After that, he boldly borrowed 60 million VND from the Social Policy Bank to buy 8 more cows, invested in barns, and grew grass to develop livestock farming. The herd of buffaloes and breeding cows has developed well each year, bringing in a stable income to help his family escape poverty, and earn more money to earn. With more capital, he learned and started to continue with the model of aquaculture and investment in afforestation to further improve family life.

It can be affirmed that from a locality with many difficulties in geography, terrain, and a large number of ethnic minorities living there, the Bac Kan branch of the Social Policy Bank has made great efforts in focusing on mobilizing resources into one unit to create capital sources and effectively implement the Government's policy credit programs.

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