Society

Bank helps ethnic minorities in Lam Dong reduce poverty

Capital from the Vietnam Bank for Social Policies (VBSP) has helped to reduce poverty significantly in the Central Highlands province of Lam Dong, especially among ethnic minorities.
Bank helps ethnic minorities in Lam Dong reduce poverty ảnh 1Illustrative photo (Source: VNA)

Lam Dong (VNA) – Capital from theVietnam Bank for Social Policies (VBSP) has helped to reduce povertysignificantly in the Central Highlands province of Lam Dong, especially amongethnic minorities.

After making a field trip to Lac Duongdistrict, Vice Chairman of the Government Committee for Ethnic Affairs Phan VanHung noted that credit programmes for the poor and policy beneficiaries havehelped poor households promote production, contributing to reducing the ratioof poor households in the locality to 3.91 percent by the end of 2017, and11.56 percent among ethnic minorities.

Lam Dong is implementing 13 credit programmesfor the poor, two of which target poor households from ethnic minority groups.

Capital from the programmes is mostly allocatedthrough the Farmers’ Association, Women’s Union, War Veterans’ Association andYouth Union.

From 2007 to May 2018, the VBSP lent more than7 trillion VND (308 million USD) to 500,000 customers. Total outstanding loansin the VBSP’s Lam Dong branch were 2 trillion VND as of May 2018, 2 trillionVND (88 million USD) more than 2007.

At a working session with the Committee forEthnic Affairs of Lam Dong province, Huynh Thanh Lan, Director of the VBSP’sLam Dong branch, said that in policy research and preferential credit policies,it is necessary to focus on the economic situation of each region and lendingperiod.

Lan proposed uniform credit policies to supportpoor households from ethnic minority groups, concentrating on the lendingamount, interest rate and lending period.

Meanwhile, it is crucial to continue reviewing allpolicies to invest in mountainous areas and support households from ethnicminority groups, thus choosing the most feasible and effective policies.

To finish the programme of building new-stylerural areas in 2020, Lam Dong needs capital to transform economic structure,develop production and improve the environment towards sustainable povertyreduction.

Nguyen Van Yen, Vice Chairman of the provincialPeople’s Committee, highlighted the efficiency of the VBSP’s capital for ethnicminority groups in helping locals escape poverty.

He suggested that the VBSP will continue prioritisingLam Dong in its credit programmes to assist the province in creating jobs andimplementing clean water and rural sanitation programmes.

Lam Dong is home to 43 ethnic minority groups,including Co Ho, Ma, Chu Ru, M’nong, Raglai, Van Kieu, Gia Rai, Co Tu and BaNa, accounting for more than 24 percent of the province’s total population. -VNA
VNA
#Vietnam Bank for Social Policies (VBSP) #Government Committee for Ethnic Affairs #ethnic minority groups #Vietnam #Vietnam news #Vietnam News Agency Lam Dong
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