Tuong Lai ESSEC Project

Since 2018, Hearts for Hue (H4H) has worked with ESSEC Business School (France) as a facilitator to organize student service projects for their students in Thua Thien Hue Province.

From 1st July to 30th July 2022, in collaboration with  H4H, a group of 4 students came to Thua Thien Hue Province, Vietnam to conduct the Tuong Lai ESSEC Project.

The project concentrated on microfinancing activities in Hue: visiting people who have benefited from the project’s fund in the past, and interviewing and selecting new beneficiates to fund.

On the first week of volunteering, a group visited people who have benefited from the project’s fund since 2018. Over the past 4 years, the project has brought about some practical and significant benefits to 7 participants in Vy Da Ward of Thua Thien Hue Province.  The participants reported that they have used the loan for the right purpose such as making joss papers or hairdresser which helps them to generate more income.

Moreover, the group surveyed 14 new beneficiaries to obtain a better understanding of the participant’s background, occupations, and business plans after borrowing a loan. The group found out that most of the participants are from a disadvantaged background and they were really in need of capital to remain in their small businesses such as green sprouts making or soft drink selling.

After conducting a survey, a team selected a list of participants who were deemed qualified for the project’s requirements. Before distributing loans, 4 training sessions were organized for more than 60 participants on the topics:

–           Brief information about H4H Microfinance, the benefits of micro-finance, the purpose of borrowing loans, savings, and some financial advice

–           Marketing and Social Media, Marketing Advice, Social benefits of the program

The training was organized with the main purpose of building capacity in financial management for all the participants. After the training sessions, the participants shared that all the knowledge is necessary and valuable, which is easy to apply to their small business. Next, we organized the loan distribution for 14 new beneficiaries with 15.000.000 VND/ per participant loan. The total fund was sponsored by Tuong Lai Project.

In addition to these above activities, H4H also facilitated a visit trip to our projects in Thua Thien Hue Social Center and Tay Xuan Kindergarten, Microfinance program in Vy da sponsored by the DOVE FUND; Microfinance program in Huong Van and Phu gia sponsored by VESAF, NFP.

Lastly, a warm farewell pawas was hosted with the international and Vietnamese volunteer’s participation. H4H would like to express our deep gratitude to Tuong Lai ESSEC Project for your tremendous support.

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