Preferential credit for meritorious people

The provincial Social Policy Bank system focuses on mobilizing capital to promote lending for policy credit programs (illustrative photo)

Joy from preferential capital

Despite being wounded in the historic Ho Chi Minh Campaign, Mr. Nguyen Van Lan, from Gia Tan Commune (Gia Loc), still volunteered to go to help Cambodia fight against the Pol Pot genocidal regime. Unfortunately, in 1983 he was wounded again. After years of brave fighting, 2/4 class disabled soldier Nguyen Van Lan returned to his hometown to live and work as a farmer. His family's life was still difficult. "At that time, the family only had a few chickens and ducks, so the income was not worth much," Mr. Lan said.

In 2005, Mr. Lan first accessed policy credit capital through the Gia Loc District Social Policy Bank Transaction Office, guaranteed by the Commune Veterans Association. He successively accessed preferential capital from programs for lending to poor and near-poor households, clean water and rural environmental sanitation, and job creation. With preferential capital, he renovated nearly 3 hectares of land to raise fish and build poultry farms. “After nearly 20 years with 4 consecutive policy loans, my family's economy has become increasingly prosperous. My family's flock now has 2,000 chickens per litter. In recent years, after deducting expenses, my family's income from livestock farming has been from 100-150 million VND, with the highest year being over 200 million VND,” said Mr. Lan.

In 1971, Mr. Nguyen Van Thuan participated in the battle in Quang Tri and was injured. In 1974, Mr. Thuan was demobilized and returned to his hometown in Duong Mong village, Ngu Phuc commune (Kim Thanh) when he was just 20 years old. Life was still difficult, so his whole family had to live in an old, dilapidated house for many years.

In January 2023, through the Kim Thanh District Social Policy Bank Transaction Office, Mr. Thuan's family was able to borrow 360 million VND with a preferential interest rate of 4.8%/year, a loan term of 10 years, plus nearly 200 million VND saved after many years of hard work, his family built a spacious 60 m2 house. "The scene of the house leaking and flooding every time it rains is no longer there. My family's life is now relatively full," Mr. Thuan said with a smile.

Thanks to policy capital, the family of war invalid Nguyen Van Lan in Gia Tan commune (Gia Loc) has developed its economy and stabilized its life.

Caring for the lives of policy beneficiaries, especially war invalids, sick soldiers, families of martyrs and people with revolutionary contributions, has always received special attention from the Party Committees and local authorities of the province.

For the provincial Social Policy Bank system, over the past years, in parallel with the implementation of preferential loan programs according to regulations, the entire system has focused on reviewing and allocating capital to help people with meritorious services stabilize their lives. Many different policy credit capital programs have been implemented such as job creation, clean water and rural environmental sanitation, social housing, mainly through lending trust at Veterans Associations at all levels. As of mid-July 2023, the outstanding policy credit loans were nearly 500 billion VND, accounting for 12% of the total outstanding policy credit loans in the province, with more than 9,500 households with outstanding loans.

“The Provincial Social Policy Bank regularly directs its affiliated transaction offices to concentrate capital sources, prioritizing timely disbursement for war invalids, sick soldiers, and relatives of martyrs who need loans. These are not only tasks to concretize policies for people with meritorious services in the province, but also actions to show gratitude to those who have devoted their youth and blood to fight and protect the Fatherland and their relatives,” said Mr. Nguyen Van Thanh, Director of the Provincial Social Policy Bank.

The loan program for people with revolutionary contributions is deeply humane, in line with the nation's ethics of remembering the source of water when drinking water and repaying favors. From the loan capital combined with the extraordinary will and determination of Uncle Ho's soldiers, many families of war invalids, sick soldiers, families of policy beneficiaries, and people with revolutionary contributions have risen up, and their lives have become increasingly prosperous.

HA KIEN