After the merger and establishment of the province, the capital of the Fund for Poor Workers at Lam Dong Provincial Labor Federation is more than 19 billion VND. This capital was handed over from the Labor Federations of Binh Thuan, Dak Nong and Lam Dong (old).
Currently, the unit is completing documents and procedures to register with the Provincial State Bank so that this fund can continue to operate under the microfinance program.
Previously, in Lam Dong province (old), the Poor Workers' Capital Support Fund was granted an operating certificate under the microfinance program, with a total capital of more than 12 billion VND. From the operation of this fund, the unit has regularly maintained more than 800 loans, each rate from 10 to 30 million VND, lending interest rate of 0.45%/month, maximum loan term of 24 months.
Union members and workers in difficult circumstances are surveyed by grassroots unions and have documents sent to the Provincial Labor Federation for consideration of loans.
This capital helps union members and workers organize production, business, repair or build new houses, purchase means of work, daily life, etc.
Similarly, in the provinces of Dak Nong and Binh Thuan (old), loans for family economic development and support for "Union Shelter" houses are also maintained, helping union members and workers in difficult circumstances to stabilize their lives.
According to Lam Dong Provincial Federation of Labor, after being granted an activity certificate, the fund will solve the need for loans for thousands of union members and workers.
Along with that, the unit coordinated with the Social Policy Bank to develop a disbursement plan for workers to borrow capital from the National Employment needs Fund (capital 120) allocated by the General Confederation.
With these methods, Lam Dong Provincial Federation of Labor is making efforts to find solutions to support livelihoods, help workers overcome difficulties and improve their lives.
