The State Bank of Vietnam (SBV), a Vietnamese government agency, recently has announced plans to implement a microfinance sector development project in the country until 2020. The plan aims to develop microfinance institutions (MFIs) to reduce poverty and secure social protection. Phase one of the project, which will last from inception until 2015, will include: formulating guidelines for the law on credit institutions related to microfinance activities; advise the government about managing the microfinance operations of political, socio-political and nongovernmental organizations; and assist MFIs in training staff, and developing a common credit bureau. Phase two, which will last from 2016 until 2020, will involve: researching and making recommendations on revising the legal framework for MFIs; and facilitating the link between MFIs and other credit institutions.
The 19 Vietnamese MFIs that reported 2010 data to the US-based Microfinance Information Exchange (MIX) held an aggregate gross loan portfolio of USD 44.6 million disbursed to approximately 193,000 borrowers.
By Charlotte Newman, Research Associate
About State Bank of Vietnam
The State Bank of Vietnam is an agency of the government of Vietnam. It was founded in 1951 as the Vietnam National Bank and was renamed as State Bank of Vietnam. It performs monetary and banking activities and acts as the Central Bank of the Socialist Republic of Vietnam.
Sources and Additional Resources:
State Bank of Vietnam: “SBV Approves Plan to Implement Microfinance Development Project in Vietnam Until 2020,” http://www.sbv.gov.vn/wps/portal/!ut/p/c5/hZBLD4IwEIR_kemULrYcQaAWHwSMz4vhYAyJgAfj7xfUGEOk7h6_nZ3ZZQfWdl3cy3NxK5u6uLAdO4yPCMmTsUtIw8SFScXKWShPIJct339xZDNqOQmTRxuuI1jUlL7VE-1PSc4BnWQTGJ2sFAUcgPzjve3SDk5oX9i5oRf_-ANODKN4zvPYDSLt9viPfM_9A-Wj59__jvzD7XpF9vu6D1m5GLPltKlO7FqtdyhN16MHhDssNA!!/dl3/d3/L2dJQSEvUUt3QS9ZQnZ3LzZfMEQ0OTdGNTQwT1RKQzBJTzNORUZLUTEwRTU!/?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/sbv_en/sbv_en/en.sbv.news/sbv.en.news.3/c9d786804ad1b395bf14bfaf8ac9fae9
MicroCapital.org story, March 7, 2012, “MICROCAPITAL BRIEF: State Bank of Vietnam (SBV) Issues License to M7 Microfinance Limited Institution (M7-MFI),” https://www.microcapital.org/microcapital-brief-state-bank-of-vietnam-sbv-issues-license-to-m7-microfinance-limited-institution-m7-mfi/
MicroCapital.org story, December 24, 2011, “MICROCAPITAL BRIEF: Vietnam Sets 10-Year Microfinance Strategy, French Development Agency Donates $1.3m,” https://www.microcapital.org/microcapital-brief-vietnam-sets-10-year-microfinance-strategy-french-development-agency-donates-1-3m/
MicroCapital Universe Profile: Vietnam State Bank
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=State+Bank+of+Vietnam
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Grab Adds MoMo as Mobile Payment Option for Ride-sharing, Deliveries, Digital Financial Services in Vietnam
- MICROCAPITAL BRIEF: Visa, Oxfam to Expand B-READY to Provide Pre-disaster Cash Assistance in Colombia, Kenya, Puerto Rico
- MICROCAPITAL BRIEF: World Bank ARISE Program Includes $230m Loan for Farmers in Ukraine
- SPECIAL REPORT: Financial Inclusion of Forcibly Displaced Persons (FDPs), Host Communities Results in Competitive PAR Ratios #EMW2023
- MICROCAPITAL BRIEF: Mastercard, Vodafone Fiji Partner to Provide Debit Cards to Mobile Money Users