Hanoi (VNA) – Social policy credit programs have contributed significantly to poverty reduction, improved the livelihoods of the people, and promoted sustainable economic development in Phu Tho.
"For many years, the implementation of the National Target Program on Sustainable Poverty Reduction has been consistently defined as a top priority and has made a clear mark by the Party Committees and local authorities at all levels in the newly expanded Phu Tho province (comprising Vinh Phuc, Phu Tho, and Hoa Binh provinces).
The sharp decline in the poverty rate and the gradual improvement in the livelihoods of ethnic communities reflect decisive leadership, management, and the strong involvement of the entire political system, particularly the synergy created by various organisations, businesses, and social policy credit.
Coordinated efforts
According to Nguyen Manh Son, Vice Chairman of the Phu Tho Provincial People's Committee and Head of the Provincial Board of Representatives for the VBSP Board of Directors, the social policy credit programs implemented in Phu Tho - the Ancestral Land - have now completed 30 years of operation.
A common characteristic is that the former VBSP branches of Vinh Phuc, Phu Tho, and Hoa Binh were all established based on the Prime Minister's Decision No. 131 in October 2002, following the reorganization of the former Bank for the Poor. These branches, now integrated into the VBSP Phu Tho Provincial Branch following the recent provincial merger, have made determined efforts, contributing significantly to the poverty reduction effort and ensuring sustainable social security in the locality.
Nguyen Minh Hung, Director of the VBSP Phu Tho Provincial Branch, shared: The greatest advantage is that from the very first day of establishment until now, the branches have always received close attention and direction from the superior bank and local leaders, creating a favorable foundation for the effective organization of the State's social policy credit programs.
With this attention and direction, the VBSP branches, now merged into the Phu Tho Provincial Branch, have collaboratively implemented specific solutions, focusing on mobilizing financial resources and ensuring the safe and timely delivery of State preferential capital to villages and communities, reaching the intended poor households and other eligible policy clients.
From these advantages, the journey of social policy credit in Phu Tho has overcome difficulties and challenges caused by natural disasters and epidemics to consistently complete the targets set.
A notable example is the period 2020 - 2025 and the three months following the merger and implementation of the two-level local government model. The social policy credit capital in the region has continuously grown and maintained a steady flow, fostering favorable conditions for the people to access capital for developing family economies and improving their lives.
As of September 30, 2025, the total operating capital of all three former branches combined into the VBSP Phu Tho Provincial Branch reached more than 18,000 billion VND, an increase of 1,064 billion VND compared to the beginning of the year. Of this amount, the locally entrusted investment capital reached 1,792 billion VND, achieving 123.98% of the assigned growth plan, ranking 10th nationwide. Concurrently, lending turnover from the beginning of 2025 to date reached 4,090 billion VND, with 65,905 turns of poor households and other eligible clients accessing social policy credit capital.
This capital has created jobs for 19,010 people; enabled 216 policy beneficiaries to purchase social housing or construct/repair homes; provided loans for 181 laborers to work abroad; offered loans to 365 students to cover educational expenses; assisted 237 households with formerly incarcerated individuals with loans for community reintegration; and facilitated the construction, repair, and upgrading of 60,325 clean water supply and rural household sanitation facilities.
The “pillar” of poverty reduction
Reality shows that for many years, in Phu Tho - from the high mountains to the midland areas and suburban regions - most poor households and eligible policy beneficiaries who are in need have readily accessed preferential loans.
Take the case of Ha Van Vuong's family in Tan Son Commune. When he and his wife first married, they lacked everything and were classified as a poor household. Instead of passively waiting for assistance, the couple bravely borrowed 50 million VND from social policy credit funds to invest in planting tea and acacia saplings.
Through hard work, diligence, and actively learning and applying scientific techniques to production, Vuong expanded his tea plantation and combined it with raising chickens and pigs. Today, his family has built a spacious, sturdy house and has escaped poverty sustainably.
Similarly, Xa Thi Hai, a Muong ethnic minority residing in Moi Hamlet, Tan Pheo Commune, used 80 million VND from a job creation loan provided by the Da Bac VBSP Transaction Office to invest in livestock and poultry farming and developing her hill-forest economy, significantly improving her family's financial situation.
Over time, the flow of policy capital has covered the entire mountainous midland area of Phu Tho, spanning over 9,360 km2, reaching every village, residential cluster, and beneficiary.
“Throughout the years, regardless of harsh weather, widespread epidemics, and even the challenges during the provincial merger and expansion of communal-level administrative units, our unit - from the provincial headquarters to the transaction offices - has always strived to implement measures to ensure the smooth flow of social policy credit capital, serving the people in the best and most effective way,” affirmed Director Nguyen Minh Hung.
In the Ancestral Land of Hung Kings today, all operations at the transaction offices and the network of transaction points managed by the VBSP continue normally with full functions and professional services, ensuring the rights of borrowers, especially poor households and ethnic minority families facing difficulties.
According to Nguyen Thanh Tinh, Deputy Director of VBSP Phu Tho, the policy credit officers are determined to overcome all hardships, constantly staying close to the grassroots, and enthusiastically delivering complete and timely information and every single unit of capital from the 20 social policy credit programs to villages and residential areas. This is achieved through a network of 479 transaction points and 8,213 Savings and Credit Groups spread across the province, ensuring the capital reaches the exact beneficiaries.
It can be affirmed that the flow of social policy credit in Phu Tho province has been steady since its establishment. The effectiveness of the social policy credit programs in this region is clearly demonstrated; since the Bank for the Poor was founded (1995), it has been recognized as a "pillar" and a "bright spot" in the national effort toward poverty reduction and sustainable social security.
To build on these achievements, the VBSP Phu Tho Provincial Branch proactively follows the direction of the superior bank and local leadership, actively implements Directive 39-CT/TW of 2024 from the Secretariat on enhancing the effectiveness of social policy credit in the new phase, successfully completing its assigned tasks, and maintaining the smooth operation of the entire transaction network to remain closer to the people and serve them better./.
