The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to provide a syndicated loan of USD 25 million toVietnam’s Orient Commercial Joint Stock Bank to expand financing to small and medium-sized enterprises (SMEs) and women-owned businesses.
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MICROCAPITAL BRIEF: State Bank of Vietnam (SBV) to Implement Microfinance Sector Development Project Including Legal Framework, Capacity Development Through 2020
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.
MICROFINANCE PUBLICATION ROUND-UP: Small-Scale Solar Power Projects, Health Worker Preferences for Insurance Payment Mechanisms, Effects of Microinsurance on Poor People in Vietnam
“Global Trends in Renewable Energy Investment 2011;” by Angus McCrone, et al; published by United Nations Environment Programme (UNEP), Bloomberg New Energy Finance, Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance; July 2011; 61 pages; available at:
http://www.fs-unep-centre.org/publications/global-trends-renewable-energy-investment-2011
MICROCAPITAL BRIEF: State Bank of Vietnam (SBV) Issues License to M7 Microfinance Limited Institution (M7-MFI)
The State Bank of Vietnam (SBV),Vietnam’s central bank, has issued an operating license to microfinance institution (MFI) M7 Microfinance Limited Institution (M7-MFI).
MICROCAPITAL BRIEF: Vietnam Sets 10-Year Microfinance Strategy, French Development Agency Donates $1.3m
The Prime Minister of Vietnam recently approved a National Microfinance Strategy, which aims to develop a safe and sustainable microfinance system to ensure social welfare and sustainable poverty eradication in the country
MICROCAPITAL BRIEF: Triodos Invests in Microfinance Institutions (MFIs) Advans Ghana, KixiCrédito of Angola, TYM Fund of Vietnam, Belarusian Bank for Small Business
Triodos Investment Management, a Netherlands-based manager of four microfinance investment funds, recently reported to MicroCapital that it has invested an undisclosed amount of funds in four microfinance institutions (MFIs): Advans Ghana Savings and Loans Limited, KixiCrédito of Angola, TYM Fund of Vietnam and Belarusian Bank for Small Business (BBSB) [1].
MICROCAPITAL BRIEF: Citi Foundation Donating $1m to Habitat for Humanity for Microsavings, Housing Assistance, Financial Education in the Philippines, Thailand, Vietnam
The Citi Foundation, the charitable arm of US-based financial services conglomerate Citigroup, will provide a USD 1 million grant to Habitat for Humanity, a US-based nonprofit organization that focuses on affordable housing, to develop the “Citi-Habitat Home Improvement Microsavings Program.”
MICROCAPITAL BRIEF: Dariu Foundation Increases Microfinance Lending in Vietnam Amidst Inflationary Pressures, Rising Interest Rates
The Dariu Foundation (TDF), a Vietnam-based microfinance institution (MFI), amidst double-digit inflation and increasing domestic interest rates, has seen a 25-percent increase in the number of new clients served and a 47-percent increase in the number of loans disbursed during the first five months of this year compared to the same period last year.
MICROCAPITAL BRIEF: Manulife Financial Introduces Life Microinsurance Product for Philippines, Plans to Expand Sales in Vietnam
Consistent with its plans reported by MicroCapital in March, Manulife Philippines, a subsidiary of Canada-based Manulife Financial, has launched a microinsurance product that provides life and accident protection to low-income Filipinos.
MICROCAPITAL BRIEF: Sacombank of Vietnam Issues 10-Year $150m Subordinated Syndicated Loan Arranged By the Netherlands Development Finance Company (FMO) to Support Banking, Small and Medium-Sized Enterprises (SMEs)
The Netherlands Development Finance Company (FMO), a Dutch public-private organization that promotes entrepreneurship in developing countries, recently arranged a 10-year subordinated syndicated loan facility worth USD 150 million for Sacombank, a Vietnamese commercial bank.
MICROCAPITAL BRIEF: Freedom from Hunger Microfinance and Health Protection (MAHP) Initiative Reaches Peru, Vietnam, Cambodia; Expands in India
US-based nonprofit Freedom from Hunger recently announced that, since the completion of its Microfinance and Health Protection (MAHP) initiative in December 2009, it has replicated the program in Peru, Vietnam, Cambodia and additional communities in India.
MICROCAPITAL BRIEF: Swiss Reinsurance Company Limited (Swiss Re) Partners with Vietnam Agribank Insurance Joint Stock Company (ABIC) To Launch Insurance Product Aimed at Protecting Microfinance Loans
Swiss Reinsurance Company Limited (Swiss Re), a global reinsurer based in Zurich, recently announced the launch of an index-based insurance program in partnership Vietnam Agribank Insurance Joint Stock Company (ABIC), the insurance arm of Vietnamese agricultural bank Agribank. The program will insure microloans to rice farmers in 10 provinces in Vietnam.
MICROCAPITAL BRIEF: Vietnam’s First Licensed Microfinance Institution TYM is Operational
The TYM (Tao Yeu May) Fund, a Vietnamese financial institution founded by the Vietnam Women’s Union in order to help implement the poverty alleviation program of the government, reportedly has become the first microfinance institution licensed by the State Bank of Vietnam, Vietnam’s central bank.
MICROCAPITAL BRIEF: Oikocredit Invests $5m in Alalay Sa Kaunlaran Inc of the Philippines, Capital Aid Fund for Employment of the Poor (CEP) of Vietnam, The TYM Fund of Vietnam and Thaneakea Phum (Cambodia) Limited
Oikocredit, a Dutch cooperative investment fund, recently reported to MicroCapital the details of investments in four microfinance institutions (MFIs) in East Asia: Alalay Sa Kaunlaran Inc (ASKI) of the Philippines, Capital Aid Fund for Employment of the Poor (CEP) of Vietnam, The TYM Fund of Vietnam and Thaneakea Phum (Cambodia) Limited.
MICROCAPITAL BRIEF: The United States Agency for International Development (USAID) to Provide $300,000 in Loans to Vietnam Under the United States President’s Emergency Plan for AIDS Relief (PEPFAR)
The United States Agency for International Development (USAID), an independent federal government agency that provides economic and humanitarian assistance, will provide USD 300,000 in loans to 750 Vietnamese people who are either living with HIV or are caregivers to “orphans or vulnerable children” [1,2]. The program will operate under the United States President’s Emergency Plan for AIDS Relief (PEPFAR) [1,3]. The loans will be used to either start small businesses or begin other “livelihood activities” [1]. The program focuses on seven provinces in Vietnam: Quang Ninh, Hai Phong, Hanoi, Nghe An, Can Tho, An Giang and Ho Chi Minh City [1]. The average loan size will be USD 450 and the loans will be disbursed over the course of the next 12 months [1]. It is unspecified if the borrowers will pay interest [1]. Potential borrowers must present a “feasible business plan” to project workers including a plan to repay the loan within three years [1].
MICROCAPITAL.ORG BRIEF: French Development Agency (AFD) Loans $44.7m to Vietnam’s Ministry of Finance for Rural Development
The French Development Agency (AFD) recently signed an agreement with the Ministry of Finance (MOF) of Vietnam to loan an equivalent of USD 44.7 million (€ 30 million), which is to be allocated towards a government project titled “Supporting private sector for People’s Credit Fund.”
MICROCAPITAL.ORG STORY: Asian Development Bank’s (ADB) Japan Fund for Poverty Reduction (JFPR) Grants $1.5m to Vietnam Government to Formalize Country’s Microfinance Sector
The Japan Fund for Poverty Reduction (JFPR), a grant facility established by the Japanese Government and the Asian Development Bank (ADB) to provide assistance to ADB’s low-income clients, will provide a USD 1.5 million grant to the Government of Vietnam to formalize the country’s microfinance sector [1].
MICROCAPITAL.ORG STORY: Vietnamese Government Sets Up Working Committee On Microfinance
It was recently reported on the Vietnamese Business News online portal [1] that the Vietnamese Government has decided to set up a Working Committee on Micro-Finance. The Working Committee will be chaired by the Governor of the State Bank of Vietnam (SBV) [2], Mr Nguyen Van Giau. The Working Committee is responsible for studying and making recommendations to the Vietnamese Prime Minister on the directives and measures necessary to develop microfinance operations in the country. It will also assist the Prime Minister in guiding and coordinating the relevant ministries, ministerial agencies and government agencies.