Credit policies contribute to new rural development in Chuong My district

In recent years, policy credit capital in Chuong My district, Hanoi has helped tens of thousands of poor households and policy beneficiaries to be in the right conditions to invest in production and businesses, creating more jobs, improving local living standards, bringing the district’s poverty rate from 0.64% in 2020 to 0.12% in 2023. Preferential loans have been an effective solution in reaching the goal of poverty reduction and building new rural areas in the locality. As of May 2024, the total outstanding loan balance in the area reached 763.6 billion VND (approximately 30 million USD) with 15,758 households with outstanding credit, of which loans to create jobs was more than 566 million VND (21,877 USD) with nearly 12 thousand people with outstanding credit; loans for clean water and environmental sanitation program take up 152.387 million VND (nearly 6,000 USD) with 7,862 households.

Source: Vietnam News Agency