Capital support for farmers’ production
Updated : 2/27/2020 7:40:00 AM (GMT+0700)

Implementing Conclusion 61 of the Secretariat on the Projectof Enhancing the role and responsibility of Vietnam Farmers Association in agriculturaldevelopment, over the past time, the Farmers Associationsat all levels in the province have actively supported capital for farmersto developproduction.

Thanks to loans from the Farmers’ Support Fund, farmers in Hoa Hiep Trung town
(Dong Hoa district) hav
ing the opportunity to expand producing and processing traditional
fish sauce

With the support from the Farmers Support Fund, hundreds of farmerhouseholds have invested, expanded production, improved income and quality oftheir life. This is aprogram of supporting capital from the Farmer Support Funds at all levels from the Central to local.

According to Mr. Huynh Van Dung, Vice Chairman of theProvincial Farmers Association, understanding the difficulties and loan needs for business of the farmerassociation’s members,the Provincial Farmer Support Fund was established in the form of lending according to theproduction and business plan proposed from the group of households at the grassroots level,combined with establishing models based on plants and animals, such asornamental plants, feeding breeding cows, farming giant freshwater prawn in combinationwith rice, intercropping shrimp and crab... to help themembers with productiondevelopment, contributing to economic restructuring and the development ofconcentrated collective economic forms in rural areas.

For the first time borrowed from the FarmerSupport Fund, Mr. NguyenVan Tot in Xuan Tho 1 commune, Song Cau town felt satisfied because thecapital was quickly disbursed. With the loan of VND 50 million, from raisingcattle for meat, Mr. Tot immediately turned to investing in raising breeding-cow. Thanks to supported breeding techniques, after more thana year of borrowing loans, Mr. Tot was able to raise more than 10 cows, at a marketprice of about VND 200 million. Sharing about the benefits from the loan fromthe Farmer Support Fund, Mr. Tot said: “Thanks to the loan, I invested toexpand breeding cows earlier than expected so the productivity is higher than thelast years. From the sale of calves, I have themoney to repay the capital according to regulations”.

According to the statistics of the Provincial FarmerAssociation, the whole province now has had 58 projects invested from the FarmerSupport Fund, with atotal capital of more than VND 19.6 billion, nearly 800 householdturns beingsolved to borrow foreconomic development with a loan amount of from VND 20 million toVND 50 million /household. In particular, more than VND 7.2 billion is the capital of theCentral Trust Association; more than VND 3.5 billion of theProvincial FarmerSupport Fund; VND 6billion from the District Farmer Support Fund and more than VND 2.4 billion from mobilization atcommunallevel. Particularly in2019, the Provincial Farmer Support Fund disbursed 3 projects to lend 42 households with a total amount ofVND 1.5 billion. In addition, the Associations at all levels also unsecured VBSPand the Bank for Agriculture and Rural Development for 49,479 households toborrow capital to develop production with a total outstanding debt of VND 1,901billion...

Mr. Mai Van Hai, Deputy Head of the Executive Board of theProvincial Farmer Support Fund, let known: In order to ensure that the capitalis disbursed to the right subjects and used for the right purposes, creatingopportunities for developing the fund, the Farmers Association regularly cooperates withfunctional agencies to inspect and supervise the process of using capital ofhouseholds. Through checking, all households make good use of this capital source,ensuring loan payment time, many farmers have had a more stable life and beenproactive in production.Currently, many members have expected the fund to continue to grow stronger, mobilizing manysources of loans for members to invest in economic development.  

“In order to improve the quality and efficiency of using the capitalsource of the Fund, theBank for Social Policies, the Bank for Agriculture and Rural Development, andto help the farmersensure capital to develop production and business, it is necessary to continueto implement effectively the Project on Improving and developing the ProvincialFarmer Support Fund inthe period of 2020-2025. In particular, focusing on developing the Fund fromthe socialization source, timely supporting farmers in the scheme to buildmodels and typical forms in economic restructuring, applying scientific and technicaladvances, advanced technology, job creation, branding, safe agriculturalproduction; at the same time, regularly organizing meetings to exchange experiences,visit effective economic models for farmers and members to learn from eachother”, Mr. Huynh Van Dung emphasized.

Source: Phu Yen Newspaper

Translated by TRINH THUY

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