With the sponsorship of VESAF, NFP, Since 2017 Hearts For Hue in collaboration with the People’s Committee of the Communes of Huong Van, Quang Phuoc and Phu Gia has been implementing a Microfinance Project with the main purpose of creating jobs and generating income for the disadvantaged people.
The Microfinance Project offers the range loans of 7.000.000dvn to 15.000.000dvn to disadvantaged people of impoverished communes for a wide range of purposes such as planting pomelo, running small businesses. Over the past 4 years, the Project has represented a practical and significant benefit for 418 participants in Huong van, Quang Phuoc and Phu Gia communes of Thua Thien Hue province, Vietnam, with the total fund of 2.288.500.000 dvn.
Mrs. Pham Thi Hong (42 years old), Long Khe village, Huong Van, Huong tra, Thua Thien Hue Province has been a participant of Microfinance program under the sponsorship of VESAF,NFP since January 2019. She is working as a Bamboo rattan maker. She learned about the microfinance program through a women ‘s meeting which was carried out in the community. She has found out that the program is appropriate with her family’s economic situation, then she has applied to the program without any hesitation. On 20th Jan 2019, after finishing a microfinance training course of Hearts For Hue, she borrowed a loan of 7 million which was repaid in 24 months. During her first round, Mrs. Hong was known as a model member as she used the loan for the right purpose and her business has well-developed thanks to this loan. In addition, all repayments were always paid by her on time. So, in January of 2021, she was moved into the second round with a loan of 15.000.000 DVN.
She invested to buy more materials to make more bamboo products in the first loan. In the second loan, she has speculated on upscaling the bamboo-producing model. As a result, it is obvious that the income has improved dramatically. She shared that her daily income has been raised from 100.000 vnd to 150.000 vnd thanks to the 15 million dong loan at the second round. It would help her get independent in the financial situation as well as taking better care of her two children who are in school age. She feels very happy and pleased to be a part of the program.
Hearts for Hue would like to express our deep gratitude to the VESAF. NFP for your huge contribution to the disadvantaged women in Vietnam.
