Today (July 3), Dr. Guido Hildner, German Ambassador to Vietnam visited and learned about the effectiveness of microfinance activities at Tinh Thuong One Member Limited Liabilities Microfinance Institution (TYM) under the Vietnam Women’s Union.
Welcoming and speaking at the meeting at the Head Office of TYM, the Vice Chairwoman of the Vietnam Women’s Union Do Thi Thu Thao emphasized: Over the years, Vietnam Women’s Union has received much practical support from the Federal Ministry of Economic Cooperation and Development (BMZ). Specifically, through the support BMZ, the Savings Banks Foundation for International Co-operation (SBFIC) as part of a cooperation project has developed the microfinance network in Indochina and Myanmar. With this project, the microfinance activities of the Vietnam Women’s Union have developed. In particular, TYM has gradually improved its capacity, becoming the first official microfinance institution in Vietnam. Many practical activities have been implemented, such as Financial Education for Women; Support to improve institutional capacity by applying digitalization in operations, making strategic plans, improving capacity for staff, expanding cooperation in the region’s microfinance network.
Within the framework of the working program, Ambassador Hildner visited 2 TYM clients’ economic models in Yen Phong district, Bac Ninh province. Thereby, the ambassador had a deeper understanding of microfinance performance in Vietnam.
On the same day, Ambassador Hildner visited a class on financial education organized by TYM called “Saving Games”. This is also one of the activities to improve the knowledge, and financial capacity for women in rural/semi-urban areas that TYM is implementing under the cooperation project.
Ambassador Guido Erpo Hildner affirmed: “Vietnamese women play an important role in the family and society. Currently, Vietnamese women in rural areas and economically disadvantaged areas still face many barriers and obstacles to economic development and improvement of life for themselves and their families. They need a lot of support in many ways to improve their capacity, especially financial support for economic development.”
The Ambassador emphasized that microfinance is an effective channel to help women, especially in rural, remote and isolated areas, access to financial services. In particular, the Vietnam Women’s Union, especially TYM, has played a very important role in supporting women to access financial services to develop production and business and rise out of poverty.
Through the implementation of the Cooperation Project to develop the Indochina and Myanmar microfinance network funded by BMZ and SBFIC, the Ambassador hoped that these would be the practical action to help Vietnamese women.