Impact of Microfinance on living standards

With the continuous support of VESAF from 2017, the living condition of local people in Phu Gia, Quang Phuoc and Huong Van communes has significant improvement such as developing their own business to generate income, taking care of their child education. We would like to introduce a case story from Mr. Huynh Van Tai toward VESAF Micro Finance Program as below:

Mr Huynh Van Tai has been providing a household electrical appliances repair service for a long time. He lives in Phu Gia commune and he has been a part of our microfinance program July since 2020. Since joining our program, Mr Tai has borrowed 07 million dong (300 USD). Thanks to the loan, Mr. Tai has invested it to purchase more electrical equipment to make it convenient in his job. As a result, the income has slightly increased from 70,000 dvn/per day to 120, 000 dvn/ per day. Generating more income has enabled him to overcome the struggle over the period of the COVID 19 Pandemic. His children were provided a sufficient education. This is a motivation for him to keep continually borrowing the next loan round in July 2022 with the size of 15.000.000 dvn to strengthen his career in the future.

Mr. Tai would like to express his gratitude to VESAF, NFP and Hearts For Hue for their Microfinance for the residents in Phu Gia Commune. This is practical and timely support that results in some beneficial impacts on the people’s livelihood, especially during the COVID 19 pandemic.

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