In particular, the District Party Committee and People's Committee of Chau Phu district have recently implemented the contents of Directive No. 40-CT/TW, Conclusion No. 06-KL/TW, and relevant documents of the Government and the province to affiliated branches and Party Committees. They have also directed agencies, units, Party committees, and administrations to determine the tasks of leadership and direction for social policy credit activities as regular activities. Additionally, they have organized the implementation of the policy of mobilizing resources for social policy credit in association with socio-economic development objectives, poverty reduction, vocational training, job creation, and ensuring local social security.

Consequently, the total entrusted capital in the locality has reached VND 25,679 billion, which accounts for 4.8% of the total capital of the central and local governments (provinces and districts), after nearly a decade of implementing Directive No. 40-CT/TW of the Secretariat on strengthening the Party's leadership over social policy credit (as of June 2024). Capital from the provincial budget accounted for 73.4% of local trustees, with a total of VND 18,847 billion. Capital from the district budget accounted for 26.6% of local entrusted capital, with a total of VND 6,832 billion. As a result, 1,016 cases of lending to the poor and other policy beneficiaries have been disbursed, totaling VND 22,799 billion. Contributing to helping the poor and other policy beneficiaries have conditions for economic development and rise out of poverty through the job support loan program, job maintenance and expansion, and the loan program for policy beneficiaries to work abroad for a definite term. The local government has established conditions to support monthly transaction points in 13/13 communes and townships, enabling the district Bank for Social Policies to organize secure transactions. This ensures that 100% of the poor and other policy beneficiaries in need are provided with loans and have full access to the products and services provided by the Bank for Social Policies.

The family of Mr. Nguyen Minh Tan, a small market in Cai Dau town, has been able to overcome economic difficulties as a result of the heavy losses incurred following the market fire in 2022, thanks to their timely access to loans from the Bank for Social Policies. Mr. Tan stated, "The capital of the Bank for Social Policies is like a lifeline for my family. The family life of a small trader who sells ready-to-wear clothes in the Cai Dau town market is quite stable, recalling 2022. The family's business capital was lost overnight as a result of the market fire, which unfortunately occurred. The Bank for Social Policies loan, which offers preferential interest rates, has facilitated the gradual stabilization of my business and the gradual redevelopment of my family economy.

Ms. Nguyen Thi Ngoc Giau, a broom bundler in Binh My commune, stated that her family had previously raised ducks. However, the avian flu epidemic necessitated the destruction of all the ducks, and the family's capital was lost. Her family was compelled to borrow capital from a commercial bank in order to work as a broom bundle in order to provide for their needs. However, the high interest rate meant that the money they earned was only sufficient to pay the bank and partially support the children. Consequently, the family economy was frequently deficient both before and after the loan was received. In 2023, her family borrowed 40 million VND to expand the capital and purchase materials for broom-making, as well as to invest in additional sound systems for wedding rentals. This was made possible by the introduction of a loan from the Commune Women's Union of the Bank for Social Policies, which offered a preferential interest rate. This improved the conditions for the family's economic development. "My family is currently paying interest and saving to pay the principal to the bank, and there is still a small amount of capital available to cover our expenses," Ms. Giau explained, citing the low interest rate and the generous repayment period.

Mr. Nguyen Van Dien (Binh My commune) has been able to secure employment for his entire family as a result of timely access to loans from the Bank for Social Policies. This has been particularly beneficial for his son, who no longer needs to leave his hometown in search of employment. Mr. Dien shared: "I have just received a loan of 50 million VND from the Bank for Social Policies to invest and expand my family's hydroponic vegetable growing model. Borrowing from the Bank for Social Policies has a lower interest rate than other commercial banks. I am able to accumulate a significant amount of money and repay it quickly by paying interest and saving money. Additionally, my second son has secured employment with a consistent income as a result of the expansion of this hydroponic vegetable garden. The family economy is relatively stable due to the fact that the father and son earn an average of 7 million VND per month from the vegetable garden.

The district's party committees, authorities, the front, and socio-political organizations have made substantial contributions to these results by collaborating with the district bank for Social Policies. They have concentrated on encouraging and establishing the most favorable conditions for the rapid disbursement of preferential credit capital to the appropriate beneficiaries, thereby making a significant contribution to sustainable poverty reduction, preventing black credit, creating jobs, ensuring social security, and constructing a new countryside, thereby promoting socio-economic development in the area.

The Director of the Transaction Office of the Bank for Social Policies of Chau Phu District, Mr. Nguyen Thanh Luu, stated that the Transaction Office of the Bank for Social Policies of Chau Phu District will continue to advise the District Party Committee of Chau Phu District to implement Directive 40-CT/TW, Conclusion 06-KL/TW of the Secretariat, in order to continue to promote the positive effects of strengthening the Party's leadership on policy credit in Chau Phu district. The directive is intended to strengthen the leadership of the Party at all levels on social policy credit. Continue to collaborate with radio and newspaper organizations at the provincial, district, and commune levels to increase the frequency of practical, extensive, and effective propaganda regarding social policy credit. Consistently cultivating and enhancing the professional capacity and professional ethics of the Bank for Social Policies' staff; providing training and disseminating professional processes to part-time departments that coordinate the implementation of credit policies, including the Association of Trustees and the Savings and Loan Team. Consequently, this contributes to the successful implementation of the objective of providing the state's concessional loans to impoverished households and policy families, thereby advancing the objective of sustainable poverty reduction in localities.

Author: Dang Phuong

Translator: Kim Thuan