A workshop was held in the northern midland province of Phu Tho onSeptember 16 to implement a microfinance support programme, helpingpromote better access to sustainable, affordable and diversifiedfinancial services by low-income groups in Vietnam.
Theproject, funded by Cordiad from the Netherlands with technicalassistance from the International Labour Orgainisation (ILO), will buildinstitutional and operational capacity of microfinance stakeholdersthrough the establishment of a network of qualified training providers,and the strengthening of the representation roles of the microfinanceworking group.
It will also improve access to savings productsfor low-income groups and promote microinsurance initiatives for thelow-income population.
The project emphasises linking traininginstitutions with resource trainers/practitioners in the area ofmicrofinance, exploring innovative channels for distributing savings andinsurance products to a greater number of poor in rural and remoteareas, and enhancing the financial capabilities of low-income groups toenable them to make informed choices on money matters.
DeputyMinister of Labour, Invalids and Social Affairs Nguyen Trong Dam spokehighly of the project in helping the ministry to make policies relatingto poverty reduction and risk mitigation.
“Through the project,we do hope that concerned line ministries and agencies will recognisethe importance and ways for effective cooperation between policy makers,microfinance service providers and social organisations for the bestinterest of Vietnamese people, especially low-income groups,” he said.
RieVejs-Kjeldgaard, ILO country director, said the project continues todemonstrate the strong commitment of the ILO in assisting the governmentof Vietnam in developing effective social protection policies underthe framework of Decent Work for All.
Microfinance has developedgradually during the past 20 years, reaching over six millionlow-income people in all provinces of the country.
However, themicrofinance sector in Vietnam has not fully realised its potentialfor fostering economic and social development in comparison with otherregional countries, since there is no leading training institution inthe sector./.
Theproject, funded by Cordiad from the Netherlands with technicalassistance from the International Labour Orgainisation (ILO), will buildinstitutional and operational capacity of microfinance stakeholdersthrough the establishment of a network of qualified training providers,and the strengthening of the representation roles of the microfinanceworking group.
It will also improve access to savings productsfor low-income groups and promote microinsurance initiatives for thelow-income population.
The project emphasises linking traininginstitutions with resource trainers/practitioners in the area ofmicrofinance, exploring innovative channels for distributing savings andinsurance products to a greater number of poor in rural and remoteareas, and enhancing the financial capabilities of low-income groups toenable them to make informed choices on money matters.
DeputyMinister of Labour, Invalids and Social Affairs Nguyen Trong Dam spokehighly of the project in helping the ministry to make policies relatingto poverty reduction and risk mitigation.
“Through the project,we do hope that concerned line ministries and agencies will recognisethe importance and ways for effective cooperation between policy makers,microfinance service providers and social organisations for the bestinterest of Vietnamese people, especially low-income groups,” he said.
RieVejs-Kjeldgaard, ILO country director, said the project continues todemonstrate the strong commitment of the ILO in assisting the governmentof Vietnam in developing effective social protection policies underthe framework of Decent Work for All.
Microfinance has developedgradually during the past 20 years, reaching over six millionlow-income people in all provinces of the country.
However, themicrofinance sector in Vietnam has not fully realised its potentialfor fostering economic and social development in comparison with otherregional countries, since there is no leading training institution inthe sector./.
