Source: Microfinance.com
Search Results for: vietnam
MICROCAPITAL STORY: State Bank of Vietnam (SBV) to Give Legal Status to Semi-Official Microfinance Institutions (MFIs); Calls for the Establishment of the Vietnam Microfinance Association
The State Bank of Vietnam (SBV) has given its approval to a proposal to change the status of Vietnamese organizations involved in ‘semi-official’ microfinance activities into officially recognized legal entities. According to a press release on the online financial news network Vietnam Business Finance, this move is an effort to help raise more funds for hunger eradication projects in Vietnam. Semiofficial microfinance activities are those included in projects that are sponsored by non-governmental organizations (NGOs) or mass organizations funded with budget capital or member contributions. According to the press release, such projects are generally successful in approaching poor customers. No information on the owners of Vietnam Business Finance is publicly available.
NEWS WIRE: Vietnam: State Dominates Microfinance Market
Source: Thanh Nien News.
NEWS WIRE: Vietnam: Microfinance network proves effective after two-year implementation
Source: Vietnam News Agency.
MICROCAPITAL STORY: Vietnamese Microfinance Sector Crippled by Government Lending Programs
In a speech given at the 2008 Global Summit of Women in Ha Noi, Vietnam, US Treasurer Anna Escobedo Cabral emphasized the need for more opportunities for women in Vietnam to access microfinance, citing the importance of microcredit in poverty reduction in Asian countries. The US Treasurer stated that since Vietnamese women played an important role in the household economy, credit would help women to be more active players.
PRESS RELEASE: Développement International Desjardins (DID) and Gates Foundation Agree to Develop Financial Cooperative Interconnectivity in West Africa, Haiti and Vietnam
Source: Développement International Desjardins (DID)
NEWS WIRE: Microfinance Services Remain Limited as Demand Increases in Vietnam
Deutsche Bank’s Global Commercial Microfinance Consortium (CGMC) Makes its First USD 600,000 Tranche of a USD 3 mn Loan to Vietnamese Capital Aid Fund for Employment of the Poor in Cambodia (CEP)
The Global Commercial Microfinance Consortium made the first installment of its USD 3 mn loan to the Capital Aid Fund for Employment of the Poor (CEP) of Cambodia, totaling to USD 600,000. CEP is a nonprofit organization based in Vietnam whose mission is “to assist the poor in developing their business and meeting their basic needs, reducing unemployment in the province, and supporting a spirit of mutual assistance in work and the social environment.” It reported to MIX market, the microfinance information clearinghouse, on 31 December 2006 as having a gross loan portfolio of USD 9.9 mn and USD 12.2 mn in total assets. Its capital/asset ratio is 51.79% and its debt/equity ratio is 93.09%.
Vietnamese Social Policy Bank Begins Microfinance Operations, Lending USD 125 mn to Microbusinesses in 2006
The Social Policy Bank of Vietnam concluded its inaugural year of microfinance operations having met its goals. The bank began the year with the goal of providing the equivalent of USD 425 mn spread amongst households, microbusinesses and projects for clean water and sanitation and reached the goal by November.
SPECIAL REPORT: Fortune Credit of Kenya, Fundación Génesis Empresarial of Guatemala, Yikri of Burkina Faso Are Finalists for European Microfinance Award 2023 on Inclusive Finance for Food Security & Nutrition
From the European Microfinance Platform (e-MFP): On September 19 and September 20, 2023, the Selection Committee for the European Microfinance Award (EMA) 2023 on “Inclusive Finance for Food Security & Nutrition” selected the three finalists that will go on to compete for the prize of EUR 100,000 (USD 105,000): Fortune Credit Limited from Kenya, Fundación Génesis Empresarial from Guatemala and Yikri from Burkina Faso.
The choice of topic for the EMA2023 comes at a
MICROCAPITAL BRIEF: 60 Decibels Microfinance Index Data from 32 Countries Indicates Higher Confidence Among Group Borrowers, Greatest Debt Burden in Cambodia
This year’s second annual Microfinance Index from US-based impact measurement firm 60 Decibels draws on phone calls to approximately 32,000 users of microfinance services delivered by 115 financial services providers (FSPs) in 32 countries. In general, FSP clients reported higher confidence in dealing with economic shocks than
MICROCAPITAL BRIEF: Impact Asset Management’s Dual Return Vision Microfinance Funds Lend to MFIs in India, China
Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, recently announced it has disbursed loans totaling USD 12 million to microfinance institutions (MFIs) in seven countries through its Dual Return Funds. MFIs in China and India received “among the highest volumes,” but the other countries have not been announced. The names of the MFIs and the amounts invested
MICROCAPITAL BRIEF: Funding Societies Inks $50m Line of Credit from HSBC to Bolster Small, Medium-sized Enterprises (SMEs) in Southeast Asia
Funding Societies, a Singapore-based platform using crowdfunding and other sources of investment to lend to small and medium-sized enterprises (SMEs), recently agreed to borrow up to USD 50 million from the local unit of UK-based HSBC. Funding Societies is active in Indonesia, Malaysia, Singapore, Thailand and Vietnam, offering products
SPECIAL REPORT: Bancamía of Colombia, Banco FIE of Bolivia, Kashf Foundation of Pakistan Shortlisted for $100k European Microfinance Award on Financial Inclusion for Women
From the European Microfinance Platform (e-MFP): On the 21st and 22nd September 2022, the Selection Committee for the European Microfinance Award 2022 (EMA 2022) on “Financial Inclusion that Works for Women” chose the three finalists that will go on to compete for the EUR 100,000 (USD 100,000) prize: Bancamía from Colombia; Banco FIE from Bolivia; and Kashf Foundation from Pakistan.
For decades, financial inclusion has ostensibly been about women’s empowerment and autonomy. But too often the sector has paid only lip-service to what this means, focusing merely on
MICROCAPITAL BRIEF: CreditAccess Grameen Seeking $50m in Debt from IFC for Financial Inclusion of Women in India
The World Bank Group’s International Finance Corporation (IFC) recently moved to lend as much as USD 50 million in the form of a three-year senior loan to CreditAccess Grameen, a unit of CreditAccess India. The objective of the loan is to boost enterprise lending to women who live in
MICROCAPITAL BRIEF: BII Investing $75m in MSME Funders via Symbiotics to Enable “Green” Projects in Africa, Asia
British International Investment (BII), the UK’s development finance institution, recently subscribed to a bond issuance arranged by Switzerland-based Symbiotics in the amount of USD 75 million to be invested in 10 to 15 funders of micro-, small and medium-sized enterprises (MSMEs) in Africa, South Asia and Southeast Asia to boost “small-scale green projects and businesses.” To support the investments, BII has committed USD 520,000 in technical assistance for the retail lenders to help their clients invest in assets such as “rooftop solar panels, sustainable agriculture, energy-efficient appliances” and others. The program spans
MICROCAPITAL BRIEF: Louis Dreyfus Company Borrowing $100m from ADB to On-lend to Small-scale Farmers to Boost Climate Resilience, COVID-19 Recovery
The Asian Development Bank (ADB), a multilateral institution based in the Philippines, recently agreed to lend USD 100 million to Louis Dreyfus Company (LDC), a Netherlands-based firm active in agriculture, food processing and shipping. LDC plans to use the funds to finance “coffee, cotton and rice inventories” for 50,000 smallholder farmers who supply the firm’s operations in India, Indonesia, Pakistan, Thailand and Vietnam. Among the goals of the project are to
MICROCAPITAL BRIEF: Apis Partners, JG Summit Commit $108m for Minority Equity Stakes in TymeBank to Expand Microinsurance, Payment Card Services to Individuals, SMEs in South Africa
TymeBank, the South African unit of Singapore-based TymeGlobal, has secured commitments totaling ZAR 1.6 billion (USD 108 million) from the Filipino conglomerate JG Summit Holdings and UK-based asset manager Apis Partners. Although the exact terms of the deal have not been released, TymeBank has so far received