Previously, Mr. Bui Van Hoan's family in Tan Mai commune lived on renting, so their income was unstable. In 2023, he boldly borrowed 100 million VND from the program to lend to production and business households in disadvantaged areas of the Vietnam Bank for Social Policies (VBSP) to invest in breeding buffaloes. Thanks to abundant food, the buffalo herd grows well and breeds stably, helping the family have a steady income.
Mr. Hoan shared: In the highlands, the advantage of feed sources and grazing land is very suitable for buffalo farming, but the economy is difficult, so we have not been able to buy breeds before. Thanks to policy capital, buffalo raising has become the main occupation of the family.
Similarly, Ms. Ha Thi Hienh's family in Mai Ha commune also developed livestock farming thanks to policy capital. More than 10 years ago, she borrowed capital from a loan program for poor households to raise cows. Currently, the family has 5 breeding cows, each year selling cows brings in an income of tens of millions of VND.
"Preferential loans are very suitable for disadvantaged households because of low interest rates and simple procedures. Without this capital, my family's economy would still have many difficulties" - Ms. Hienh said.
Mr. Nguyen Dinh Hoang - Director of Mai Chau Social Policy Bank - said that Mai Chau district, Hoa Binh province (old) is mainly ethnic minorities, life is still difficult, so the demand for loans is very high. In the past, the unit has prioritized allocation to communes with special difficulties and increased lending levels for feasible options. Currently, total outstanding loans have reached more than 500 billion VND; from the beginning of 2025 to now, more than 50 billion VND has been disbursed to poor households and policy beneficiaries.
Not only does it help reduce poverty sustainably, policy capital also contributes to solving on-site employment. In Toan Thang commune, Ms. Dinh Thi Nhung, Ren hamlet borrowed 50 million VND from the job creation program to raise pigs. Previously, her husband had to work far away, now he has stayed in his hometown to develop the economy.
"The capital came at the right time to help the family invest in raising livestock, creating jobs right in the locality. Not only do we have a stable income, we also avoid many consequences of having to work far away" - Ms. Nhung shared.
Also in Toan Thang, Mr. Bui Van Trang started a construction materials business with policy loans. The facility is currently operating stably, creating jobs for a few workers and bringing in hundreds of millions of VND per year.
"At first, I was worried because I lacked experience, but thanks to low interest rates, I had the motivation to do business. Now I have regular customers and stable business" - Mr. Trang said.
Some young people in the highlands also take advantage of policy capital to start a service business. Like Mr. Giang A La, the Mong people in Pa Co commune have invested in homestays and developed community tourism.
"Youth wanting to start a business has many ideas, but they are a big obstacle. Thanks to policy capital, I have invested in homestays and improved my income, now I have paid off all my bank debt" - Mr. La said.
According to the Phu Tho Province Branch of the VBSP, from the beginning of 2025 to now, the unit has disbursed more than VND 3,260 billion. The total outstanding debt of the whole province is currently nearly 17,800 billion VND, with about 293 thousand poor households and policy beneficiaries still in outstanding debt. In the first 7 months of the year, this capital has helped more than 52,000 households invest in production and business; created jobs for about 15,6 thousand workers; built over 200 social housing units and upgraded more than 23,000 clean water and rural sanitation works.
The above stories and figures show that policy credit not only helps tens of thousands of households in disadvantaged areas to rise up, but also retains workers in their hometowns, contributing to building sustainable livelihoods and developing the local economy.
