The greatest achievement after 10 years of implementing Directive No. 40-CT/TW is the change in awareness in leadership and direction of the Party committees, authorities and the whole society towards poverty reduction and ensuring social security for the disadvantaged...
Everyone joins in
To transfer policy credit capital to the right beneficiaries, the Thai Nguyen branch of the Vietnam Bank for Social Policies has implemented the method of entrusting some work contents through socio-political organizations, establishing and managing a network of Savings and Loan Groups at the grassroots level.
Up to now, the total outstanding loan balance entrusted through socio-political organizations is 4,700 billion VND, with 2,628 Savings and Loan Groups, accounting for 99.47% of the total outstanding loan balance of the provincial branch of the Vietnam Bank for Social Policies. Of which, the Farmers' Association manages outstanding loans of more than 1,342.8 billion VND, accounting for 28.46%; the Women's Association manages outstanding loans of nearly 1,360.8 billion VND, accounting for 28.85%; the Veterans' Association manages outstanding loans of more than 1,048.6 billion VND, accounting for 22.23%; the Ho Chi Minh Communist Youth Union manages outstanding loans of more than 965.4 billion VND, accounting for 20.46%.
The combined participation of 4 socio-political organizations with the role of both social supervisors and entrusting some tasks in the policy credit process, the Thai Nguyen branch of the Vietnam Bank for Social Policies has created conditions for socio-political organizations to gather forces, increase the number of members, consolidate and improve both the quantity and the organization to better perform the functions and tasks of the association and mass organization, improve the quality of the movement more effectively; the capacity of cadres of socio-political organizations has been improved, contributing to consolidating the political system at the grassroots level.
In hamlets, the hamlet chief, as a direct participant, witnesses and supervises the loan evaluation, inspects and supervises the activities of the Savings and Loan Groups, coordinates the inspection of loan use, urges debt collection... From there, the capital of the VBSP has reached the right beneficiaries, most of the borrowers use the loan for the right purpose.
Mobilizing large resources
Implementing Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Central Party Secretariat, every year, Party committees and authorities at all levels in the province have directed specialized agencies and consultants to allocate a portion of the local budget entrusted through the Vietnam Bank for Social Policies to lend to poor households, near-poor households and other policy beneficiaries.
Up to now, Thai Nguyen province has focused on mobilizing resources and policy credit capital with the strong participation of the entire political system and the people. The goal of poverty reduction and creating new changes in social policy credit activities have become important tasks and targets of Party committees and local authorities. Therefore, investment resources for implementing programs and plans for economic and social development and sustainable poverty reduction have been increased, mainly from the central and local budgets; in which, preferential credit capital has been mobilized and used basically for the right purposes, economically and effectively.
By the end of October 2024, the provincial local budget capital entrusted to the VBSP reached VND 255.73 billion, an increase of VND 45.773 billion compared to the end of 2023; contributing to raising the total policy capital of Thai Nguyen province to VND 4,920.656 billion. In addition, the capital mobilized by the provincial VBSP branch was VND 515.312 billion; the capital of companies and enterprises entrusted to the VBSP reached VND 6.633 billion, an increase of VND 5.098 billion (an increase of 332%) compared to before Directive No. 40-CT/TW; capital from the campaign for the poor launched by the Fatherland Front, charitable capital and other capital sources: VND 1.535 billion, an increase of 100% compared to before Directive No. 40-CT/TW.
Director of the Thai Nguyen Provincial Bank for Social Policies Nguyen Quang Thinh affirmed that the most favorable point in implementing policy credit activities is that for many years, local leaders have always paid attention to poverty reduction work as well as agreed on the role, position and importance of policy credit in implementing the sustainable poverty reduction program. Every year, the Provincial People's Committee and 9 districts and cities under the province promptly supplement and entrust the Bank for Social Policies with budget capital to lend to poor households and disadvantaged ethnic minority families to invest in production and business.
