Borrowers clear procedures to borrow loans from a credit package under the government's resolution 11. (Photo: VOV)

A Veo’s family of a Xo Dang ethnic group in Sa Thay district was hard hit by the pandemic. They suffered numerous difficulties.

A Veo borrowed more than 4,300 USD from the livelihood support and job creation package under the resolution 11 two months ago to buy 2 breeding cows, seedlings and fertilizers.

He said he and the entire family would like to thank the Party and government for helping them access the bank loans to raise cattle, grow fruit trees, and develop the household income.

A Veo’s joy is shared with hundreds of households in Sa Thay district who have borrowed from the program.

All agree that the preferential loans have come at the right time, helping to handle their immediate difficulties. Many families have even used the loans to invest in their children's education.

Luong Van Phuc in Ya Xier commune recalled, “Our most difficult period was during the pandemic. We’re very glad to access the state loan which was used to buy two laptops for my children to study online.”

Loans from the government resolution 11 have helped generate jobs for many people in Kon Tum.

Initial assessments show that the implementation of resolution 11 in Sa Thay district and across Kon Tum province has benefited hundreds of poor households. The results are attributed to authorities’ efforts to help people quickly access loans.

Nguyen Minh Thuan, Secretary of Sa Bình commune’s Party Committee, said, “Right from the beginning of the first quarter, the local government had coordinated with Sa Thay district’s Bank for Social Policy to make a list of the households affected by the pandemic. To date, more than 30 households have benefitted and about 60,000 USD has been disbursed.”

Nguyen Van Trung, Deputy Director of theprovincial Bank for Social Policies, said that the total demand for loans from the program in Kon Tum this year and next year will be nearly 52 million USD and the bank has sped up loan disbursement.

“Resolution 11 was promulgated in a very timely manner to help the disadvantaged, especially customers of the Bank for Social Policies. Poor households and other policy beneficiaries have suffered greater disadvantages than others over the past 2 years of the pandemic. The loans have partly helped them restore production and business to stabilize their lives," Trung said.