Accordingly, the policy credit network has covered 100% of villages across the province.

From the initial credit programme for poor households, the Vietnam Bank for Social Policies (VBSP)’s chapter in Yen Bai has entrusted 17 policy credit programmes. As of August 31, 2022, outstanding loans entrusted through organisations and unions had reached over 4 trillion VND. As many as 443,463 poor households and other policy beneficiaries accessed preferential loans.

Thanks to the loans, locals people have invested in planting 230,950 ha of acacia, cinnamon, bodhi trees; 12,553 ha of tea; 4,415 ha of orchards; and building and upgrading 147,000 clean water and sanitation works.

The preferential credit programme has really helped local poor households and policy beneficiaries to improve their incomes, and escape from poverty, contributing to promoting economic growth, stabilising prices, controlling inflation and reducing the poverty rate by 3-4% each year.

At the meeting, participants pointed out difficulties and obstacles, as well as lessons and experience in implementing the Government's preferential credit programmes over the past 20 years. They also proposed measures to effectively use the preferential credit capital for economic development, sustainable poverty reduction, and new-style rural area building.