Policy credit supporting ex-prisoners in their new lives

Jul 25th at 13:46
25-07-2023 13:46:32+07:00

Policy credit supporting ex-prisoners in their new lives

Policy credit sources from Vietnam Bank for Social Policies (VBSP) have helped former criminals reintegrate into the community and lead a better life.

Le Dinh Ngoan, a 60-year resident in Chieng Son commune of Moc Chau district in the northern mountainous province of Son La, wakes up at 5am each day to take care of his family’s large garden, grown with 140 seedless persimmons in which 100 trees have generated harvest.

Ngoan recalled that at last year’s harvest season, traders directly came to the garden to buy persimmons at $1.73 per kg of four persimmons, or $1.30 per kg of six persimmons.

Ngoan’s family counted nearly $8,000 in profit from about six tonnes of persimmons after deducting all relevant expenses.

Besides persimmons, his family has also planted longans, plums, sweet oranges, and tea of smaller volume. As a result, the whole garden brought the family about $10,900 in profit last year.

“In 2013, with trust from the Women’s Union and a lending group in Chieng Son commune, my family was given a $1,300 loan for three years for production and business from a unit under the VBSP Lang Son branch," Ngoan explained.

"We paid off the loan after three years. In 2021, my family was given a further $2,170 loan that supports creating employment from VBSP for five years.”

Tran Thi Huong, Ngoan’s 62-year old wife, said the house their family built last year used up more than $17,000 of their savings.

Along with another $870 loan from the VBSP programme to support clean water and hygiene works in rural areas for five years, Ngoan and Huong have been leading a more stable life than previously.

“I reared five childen for seven years while my husband was in jail, leaving my life fraught with hardship. At that time, my house was just a makeshift tent made of bamboo and rattan," Huong said.

For over a year, VBSP’s Moc Chau district has lent out more than 800 people with volume surpassing $1.95 million to support job maintenance and expansion for local labourers.

"The tent was burnt several times due to forest fire, then we built a thatched house, but life was still full of difficulties. We now have an easy mindset living in a newly built concrete house. In July, Chieng Son commune was hit by a storm, yet we were safe,” added Huong.

According to Le Thi Hong, chairwoman of Chieng Son Women’s Union, the commune is home to eight family households that include ex-prisoners who have managed to turn a new leaf in their live.

"These families were given loans from VBSP under direct proposals from commune police and the local Women’s Union. The scheme contributes to propelling re-integration into the community, from there bringing positive changes to the life of relevant people,” said Hong.

Nguyen The Can, director of VBSP’s Moc Chau Branch, said that since the start of 2022, the branch has lent around 800 people a total of $1.95 million to support job maintenance and expansion for local labourers, from there lending a helping land to realising poverty reduction and social wellbeing.

"Annually, VBSP’s lending scheme helps hundreds of labourers acquire stable jobs and raise income with constantly improved living conditions. Though Moc Chau district still reports several unpaid mature debts as the relevant family households still grapple with hardships, we trust in their resolution to escape from poverty in a wholesome manner,” said Can.

vir



NEWS SAME CATEGORY

Remittances to HCM City up 37 per cent in H1, likely to hit $7 billion this year

Remittances to HCM City have seen a surge of 37 per cent in the first half of 2023, reaching a total of US$4.33 billion, according to the State Bank of Việt Nam...

Vietnamese banks prove attractive to foreign investors

The Southeast Asia Commercial Joint Stock Bank (SeABank, coded SSB) has revealed a plan for the private placement of nearly 95 million shares, equivalent to 4.63...

Foreign tech giants contribute $166 million in taxes in H1

The General Department of Taxation (GDT) in Vietnam has reported that prominent foreign tech companies, including Google, Apple, Facebook, Netflix, TikTok, made...

ABBANK profit plummets in H1

An Bình Commercial Joint Stock Bank (ABBANK) has reported a pre-tax profit of VNĐ638 billion (US$27 million) in the first half of the year, meeting only 23 per cent...

Massive loan portfolio at Sacombank under scrutiny following government audit

Sacombank faces intense scrutiny as a government audit exposes substantial loans tied to a single project and an array of potential regulatory violations, sparking...

The first line of credit cards to allow users to choose features

In June, Vietnam International Bank (VIB) cooperated with American Express to launch its first white card, named Super Card. Tuong Nguyen, head of VIB's Card...

Việt Nam, US promote further financial cooperation

Vietnamese Minister of Finance Hồ Đức Phớc proposed Việt Nam and the US promote further cooperation in finance at a working session with US Secretary of the...

State bank launches VNĐ15 trillion credit package to support forestry and fishery businesses

The State Bank of Việt Nam (SBV) on Wednesday issued a document guiding commercial banks to implement a credit package, worth VNĐ15 trillion (US$641 million), for...

Vietcombank sets record market cap

Despite a correction of the market on Wednesday after a winning streak of eight sessions, Vietcombank's shares (VCB) soared to a historic peak of VNĐ106,500 per...

Sacombank profits tops over $200 million in the first half

Sacombank’s pre-tax profits topped VNĐ4.75 trillion (US$200.25 million) in the first half of the year, a year-on-year increase of 63.5 per cent, and 50.1 per cent...

Bank stocks

Insurance stocks


MOST READ


Back To Top