Microfinance Program: Vy Da Ward, Hue City-sponsored by DOVE Fund
With a total budget of 1.057.790.000 DVN, this program is sponsored by the DOVE Fund, a non-profit organization, founded in 2000. DOVE FUND aims to provide humanitarian and development assistance to the impoverished areas of Vietnam.
The interest rate charged in Vy Da is just from 0,4 to 1% per month.
The program has benefited 508 participants so far. With the aim of sustainable economic support, our program gives disadvantaged families especially women the opportunity to open businesses or invest in their current business such as selling breakfast, making hats, opening small groceries stores, planting indoor plants and hairdressing to create a steady future income. Thanks to the program, the living conditions of these families have been improved continuously and their children have a chance to access a better education condition. In addition, it was reported that these women feel more confident toward managing their family finances. The highlighted part is that they have known to allocate a saving amount for their family.
During 2019, H4H conducted a comprehensive review of our microfinance program, using best practice evaluation in the microfinance industry, as developed by the World Bank (see here for technical details).
We are proud of the results which show that our program is highly effective by global standards and that they have continued in their mission to serve the poorest. Moving forward, we will update and publish the results of this evaluation process every six months.
This evaluation is correct as of July 2019.
Case story and videos of MicroFinance Program
Since its inception in 2011, the Program has represented a practical and significant benefit to more than 508 participants. Please have look at some successful MF Stories.