The Dak Ha district of the Central Highlands province of Kon Tum has todate established 61 “community banks” in 50 villages to help localethnic minority groups overcome food shortages between harvests.
The “community bank” is similar a type of stockpile, where grains andother farm produces are stored at the end of the harvest and lent outto needy people at low interest rates. The bank collects interest“payments” every six months.
The model waslaunched in 2011 to mitigate food shortages during the inter-harvestingperiod where ethnic minority locals had previously been forced toharvest premature crops or borrow money from loan sharks.
Since then, the bank has lent out nearly 115 tonnes of paddy rice andover 67 tonnes of rice while some 900 million VND (41,275 USD) sourcedfrom the Vietnam Bank for Social Policies and 300 tonnes of fertilizershave also been allocated in loans.
Dak Lacommune in Dak Ha district alone has set up six community banks thus farwhile hundreds of impoverished families in Ngok Reo commune havebenefited from eight of the banks.
The“community bank” model has greatly contributed to local socio-economicdevelopment and ensuring social security among ethnic minoritycommunities, said Party Committee Secretary of Ngok Reo commune Dinh VanPhat.
He added that the programme has helpedmany impoverished households improve their incomes and lifted themselvesout of poverty.-VNA
The “community bank” is similar a type of stockpile, where grains andother farm produces are stored at the end of the harvest and lent outto needy people at low interest rates. The bank collects interest“payments” every six months.
The model waslaunched in 2011 to mitigate food shortages during the inter-harvestingperiod where ethnic minority locals had previously been forced toharvest premature crops or borrow money from loan sharks.
Since then, the bank has lent out nearly 115 tonnes of paddy rice andover 67 tonnes of rice while some 900 million VND (41,275 USD) sourcedfrom the Vietnam Bank for Social Policies and 300 tonnes of fertilizershave also been allocated in loans.
Dak Lacommune in Dak Ha district alone has set up six community banks thus farwhile hundreds of impoverished families in Ngok Reo commune havebenefited from eight of the banks.
The“community bank” model has greatly contributed to local socio-economicdevelopment and ensuring social security among ethnic minoritycommunities, said Party Committee Secretary of Ngok Reo commune Dinh VanPhat.
He added that the programme has helpedmany impoverished households improve their incomes and lifted themselvesout of poverty.-VNA
