Vice President of the Vietnam Fatherland Front Le Ba Trinh presents Tet gifts to the needy in Thua Thien-Hue province  (Photo: VNA)

ThuaThien – Hue, (VNA) – The central province of ThuaThien – Hue has so far supported 14,000 needy households in accessing preferential loans from the Vietnam Bank for Social Policies (VBSP) in 2017.

Nguyen Van Nghia, residing near Tam Giang lagoon in QuangLoi commune, QuangDien district, is a prime example of poor people escaping poverty thanks to preferential loans. Nghia’s family had been living under the poverty line for many years. Local authorities assist them to borrow 30 million VND (1,324 USD) from the VBSP to start duck breeding. In 2016, the family escaped poverty. Nghia received another loan of 20 million VND (882.8 USD) in January this year to further expanding his business.

Preferential loans have helped boost sustainable poverty reduction in the province. So far, 95,000 local poor and near-poor households have accessed preferential loans worth over 2 trillion VND in total.

Since 2016, ThuaThien – Hue has implemented a poverty alleviation programme worth more than 52 billion VND (2.29 million USD). It has helped provide vocational training for 1,285 people as well as educational support for 3,300 students.

According to the multidimensional poverty standards, the province has 23,600 household living under the poverty line and more than 14,000 others living close to the line. The figures account for 8.36 and 4.97 percent of the local population respectively.-VNA