Yen Bai: Farmers’ Support Fund reaches nearly VND 38 billion

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Yen Bai: Farmers’ Support Fund reaches nearly VND 38 billion

Monday, December 9, 2024

YBO - The total capital of the Farmers’ Support Fund (HTND) in Yen Bai Province has reached nearly VND 38 billion. Of this, over VND 7 billion comes from funds entrusted by the Vietnam Farmers' Union, while provincial and district-level funds account for over VND 30 billion. Currently, these funds are providing loans to 760 farmer households for production and business development.

Many households have increased their average annual income to between VND 200–300 million after project completion, with some models achieving over VND 400 million annually

The provincial Farmers’ Union has implemented the fund with a focus on providing loans to develop and replicate economic models that leverage the unique potentials and advantages of each locality. It also emphasizes the application of advanced scientific and technological methods in production and business, encouraging value chain-linked production. The products financed are required to meet food safety and hygiene standards, following VietGAP standards and aiming toward OCOP certification. Furthermore, the Farmers’ Union of Yen Bai encourages the use of funds for cooperatives and collaborative groups, fostering collective economic growth.

An inspection revealed that loan recipients utilized the Farmers’ Support Fund (HTND) appropriately, adhering to guidelines from higher-level farmers' associations. Debt collection for due payments has been conducted in accordance with regulations. Successful implementation of HTND and bank-funded loan projects has enabled members to expand production, improve household economies, and establish interconnected business models for production and consumption.

Notable examples include the mulberry cultivation and silkworm farming project in Viet Thanh Commune, Tran Yen District; the sticky rice cultivation project in Khanh Thien Commune, Luc Yen District; reproductive buffalo farming in Xuan Lai Commune; and cage fish farming on Thac Ba Lake in Han Da and Vinh Kien Communes, Yen Binh District. Many households have increased their average annual income to between VND 200–300 million after project completion, with some models achieving over VND 400 million annually.

These projects have significantly contributed to building new rural areas and strengthening the Farmers’ Union. Effective loan use has also led to the emergence of exemplary farmer models in production and business.

Looking ahead, the provincial Farmers’ Union plans to continue supporting members in accessing HTND funds to further develop production and business, helping them achieve prosperity. This effort aims to contribute to the economic, cultural, and social development of the province, while advancing rural development and fostering a comprehensive, sustainable Yen Bai that embodies harmony, cultural identity, and happiness.

Manh Cuong

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