MicroFinance Project in Huong Van Commune sponsored by VESAF, NFP

 Sponsored by the VESAF, Hearts For Hue is working in collaboration with the Huong Van People’s Committee to implement our Microfinance Project. Our goal is to create jobs and generate income for 26 families affected by the floods in Huong Van Commune.  This is the third commune that we have focused on in delivering the Microfinance Project.

Huong Van is a poor commune located 22 km from Hue City. Local residents work primarily in agriculture, horticulture and animal husbandry. These jobs are very unstable and earn meager wages. Also, 8.6% of the people in Huong Van suffer from disabilities. Some of the households have people who are victims of Agent Orange as well.

According to a recent survey conducted by Hearts For Hue, most local families have difficulty in paying for daily food, education fees for their children and health care, especially for those with disabilities. All of their farmland and gardens, especially the papaya and Hue pomelo trees, have been damaged by the floods that hit last November. The people now need assistance to recover their farmland or diversify into other businesses such as selling consumer goods.

 Before the loans were distributed an experienced credit officer taught the people the basics of money management. The training concentrated on the credit and savings process, including lending methods, loan sizes, approval processes, lending durations, reimbursement methods, interest rates and loan groups.

The credit officer also provided training for the Community Project Management Board of Huong Van People’s Committee. The comprehensive training focused on operational management, financial management, monitoring, and evaluation. This particular microfinance Project in Huong Van has supported 26 families with a loan of 7,000,000 VND ($312 USD) each.

Hearts For Hue Team

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