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People’s Credit Fund Plays Role in Agricultural and Rural Development

On November 6, State-owned Bank – Dong Nai Branch held the summation meeting on 15 years of foundation and development of People’s Credit Fund in the province. Mr. Ao Van Thinh, vice chairperson of Dong Nai People’s Committee, attended the meeting.

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Vice chairperson Ao Van Thinh gives certificate of merit of the Provincial People’s Committee groups for their contributions to the fund

    According to report by State-owned Bank – Dong Nai Branch, total number of People’s Credit Fund hits 28 with 39,294 members; total capital sum for their operation reaches VND532.5 billion, VND19 billion each fund on average, 5.5 times higher than that of 1999.

    That the system of People’s Credit Fund was founded and developed for the last 15 years proves its role as economic cooperation model in banking directly serving the cause of economic reform and development of agriculture, rural area and farmers, offering capital to production and business demand; acting as a reliable address where locals can conveniently make deposits and loans, attracting unused capital from people and sponsor capital from international organizations, etc.

    Addressing the meeting, Mr. Ao Van Thinh said that successful establishment of the fund confirmed the correctness of State and Party policy taking advantage of unused in people for economic development of agriculture, rural area and farmers, reducing high interest loans. Thinh asked the fund system to follow the goal and policy set for lending, as well as foster local capital raising, keep the balance between raising and lending period, try to improve their image in people.

    By the way, the Provincial People’s Committee gave certificates of merit to 10 groups and 200 individuals for their considerable contributions to development of the fund; while other five groups and 36 individuals were given certificates of merit by director of State-owned Bank - Dong Nai Branch.

L.H (Thanh Canh)

Author: phongvien

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