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Economics

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Farmers can take out loans to develop home-based business

 

Since beginning of this year, Farmers Association of Vinh Hoa commune, Phu Giao district has granted loans worth totally over VND2.3bln to 90 member households. Thanks to that, many members have developed effective home-based businesses to escape from poverty.

According to Vinh Hoa commune’s Farmers Association’s Vice Chairman Nguyen Hoang Thanh, owing to attention from local Party and government, the organization has encouraged members to switch productive structure to production of crop plants, livestock having high economic values.

At the present, most members are growing rubber trees and swine. The organization has also mobilized financial support from other sources to help members. Since beginning of this year, total financial mobilization was VND15bln, surpassing targets, including more than VND7.5bln of loan granted to 208 members. 

Reported by Q.Nhien – Translated by Ngoc Huynh

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