Soft loans help farmers promote economic development

To facilitate access to preferential credit for production development, social and mass organisations in Tan Yen commune, Moc Chau township, have acted as guarantors for 1,679 households to borrow loans worth 99 billion VND (3.8 million USD) in total from the Vietnam Bank for Social Policies (VBSP)’s Moc Chau transaction office.

 

Officers from the Vietnam Bank of Social Policies (VBSP)’s Moc Chau transaction office delivers preferential loans in Tan Yen commune.

With these loans, households have invested in restructuring their crop and livestock production, enabling them to escape poverty. Currently, the commune has over 1,500 hectares of fruit trees, 430 hectares of biomass corn, and 271 hectares of tea. The living standards have steadily improved, with the poverty rate down to just 2%.

Implementing preferential credit programmes in Tong Lanh commune, Thuan Chau district, over 800 households have accessed loans from the VBSP, with a total outstanding debt exceeding 43 billion VND. These funds have supported the deployment of effective economic models, such as trade and services in Thom 2 and 3 hamlets; coffee cultivation in Cu hamlet; livestock farming and coffee growing in Lanh hamlet. Economic development has improved living conditions, bringing the commune’s poverty rate down to 7.66%.

A farmer in Lanh hamlet, Tong Lanh commune, Thuan Chau district develops stall-fed livestock farming.

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