August 2023: Hearts for Hue’s Microfinance Program in Huong Van Commune

On August 29th, 2023, under the sponsorship of VESAF, Hearts for Hue organized round 2 loan distribution to the local households in Huong Van commune as part of the Microfinance Program. Round 1 was held successfully with the participation of 14 households. After the assessment, 12 were qualified to continue round 2 with 15 million VND loan/participant. Specifically, thanks to the loan from round 1, the 12 households were able to develop their businesses, thereby, improving their monthly income sustainably. Therefore, besides meeting the requirements, all of them were willing to take part in round 2 of the program

Microfinance Program has been successfully implemented by Hearts for Hue for the past 12 years, providing small loans to vulnerable communities in order to promote financial inclusion and sustainable economic development. So far, this program has helped over 1,000 individuals access capital to start or grow their businesses, and generate sustainable income for themselves and their families. Since 2018, with the sponsorship of Vesaf, H4H has organized the loan distribution to 355 households in Huong Van with the total fund of 3.744.708.000 VND.

The Microfinance Program is an important part of Hearts for Hue’s mission to improve the livelihoods of vulnerable communities in Vietnam. By providing access to small loans, Hearts for Hue hopes to empower poor women to take control of their finances and improve their economic well-being. In Huong Van commune, the program has been particularly successful in supporting impoverished women. The loans provided through the program have been used for a variety of purposes, such as purchasing livestock, expanding farms, and improving household infrastructure. Through these investments, women also have been able to increase their income and improve their families’ standard of living.

In addition, Hearts for Hue also had a meeting with management board of the program about the program development orientation from 2023-2025, and to discuss other community projects.

Once again, we would like to expresses our deep gratitude to Vesaf for generously sponsoring our program and for your unwavering commitment to making a positive impact in the lives of Hue local communities.

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