Within the framework of the International Forum on Women, Peace and Development in Vietnam, the delegation visited some activities of Tinh Thuong Microfinance Institution (TYM) in Me Linh branch (Hanoi) in the afternoon of 7th October.
Joining the delegation there were Mrs. Annie Raja, Vice chairman of Women’s International Democratic Federation and Mrs. Hoang Thi Ai Lien, Permanent Vice Chairman of Vietnam Women’s Union and many other international delegates.
The delegation visited the center 2 of TYM’s Me Linh branch, Ha Noi. This center was established in 1999. Currently there were 38 members in the center who were also members of Bach Tru Women’s Union in Tien Thang village, Me Linh district.
By September, 2015, the center’s loan portfolio reached more than VND 215 million with average loan size from VND 15 to 30 million for investment in agriculture and small trading. So far, all members achieved stable income and there was no longer poor family in the center.
The delegation also visited the family of Mrs. Luu Thi Son, a typical member of Center 8 in Tu Lap village, TYM’s Me Linh branch. In 1996, Mrs. Son started to take a loan of just VND 300,000 from TYM to buy and sell noodle and vegetables. Years passed and her family was currently investing in the model of combining raising cattle, growing vegetables and raising fish in an area of 4 hectares. Her annual profit was up to VND 1 billion.
At present, Mrs. Son was the TYM’s client getting the maximum loan size of VND 30 million. The number of regular labors in her family was 7 people and that of seasonal labors was about 15 to 20 people.
In 2008, Mrs. Son received the typical micro financial entrepreneur award held by Citi foundation. The award was to commend micro financial clients with creative business models which contributed to creating jobs for local labors and eliminating poverty.
Extracted from the Banking Times on 8/10/2015