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VietNamNews

Supporting Fund for Farmers helps reduce poverty levels

Update: January, 22/2016 - 15:20

A farmer from K'Dang Commune in Gia Lai Province's Dak Doa District, tends his pepper garden. Many farmers have escaped poverty with loans from Supporting Fund for Farmers. — Photo quyhotronongdan.vn

HA NOI (VNS) — Supporting Fund for Farmers has effectively raised incomes of farmers, and helped reduce the number of poor households from 14.2 per cent in 2011 to 10 per cent last year.

This was announced during a meeting held by the Viet Nam Farmer's Union to review the activities of the fund from 2011 to 2015 periods in Ha Noi last week.

Nguyen Xuan Thang, from Supporting Fund for Farmers, said more than 400,000 farmers have received funds from the Supporting Fund for Farmers with a total investment of some VND5,200 billion (US$231.9 million) over the past five years.

Thang said that besides improving management, the fund has made fundamental changes in the way they provide loans to farmers to develop their business.

Instead of giving loans for a household or a group of households with different kinds of cultivation or animal husbandry models, the fund provides loans to the model of a project. The investment for a project was increased from VND300 million ($13,380) to VND1.5 billion ($66,910).

Project members used the investment to cultivate a certain kind of plant or raise a certain kind of livestock or poultry. — VNS

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