With its effectiveness, reputation and quality affirmed in nearly 30 years of operation, Thanh Hoa Microfinance has attracted investment and cooperation from many domestic and foreign partners. This has significantly contributed to helping Thanh Hoa Microfinance improve resources, expand scale and quality, creating conditions for many customers who are poor, low-income and disadvantaged households in society to have the opportunity to access loans to develop the economy and stabilize their lives.
Since it was a microcredit program established by the US Save the Children Organization, Thanh Hoa Microfinance Institution has realized more than anyone the value of sharing and cooperation. "If you want to go fast, go alone, if you want to go far, go together", Thanh Hoa Microfinance Institution has gone through nearly 30 years of construction and development with many typical marks. In particular, the results achieved in international cooperation have shown the vision and tireless efforts of the Board of Directors, officers and employees of Thanh Hoa Microfinance Institution to connect and mobilize domestic and foreign resources towards the highest goal of consolidating and expanding the scale of operations so that more and more customers can access "friendly and effective" financial and non-financial services. Up to now, Thanh Hoa Microfinance Institution has had decades of experience in cooperating with foreign partners, especially organizations investing in the banking and finance sector such as: Jica, Kiva, Care, Lend with Care, BNP Bank...
BNP Bank is one of the long-standing units operating in the financial sector, headquartered in France and with a network of operations spanning the globe. In Vietnam, since 2019, BNP has marked an important step forward by cooperating with Thanh Hoa Microfinance Organization with the common goal of bringing economic opportunities and improving living conditions for the community.
To date, BNP Bank has disbursed about VND 127 billion to Thanh Hoa Microfinance Institutions through preferential loan packages. From here, Thanh Hoa Microfinance Institutions have more resources to implement credit support programs. Preferential interest rates from BNP help reduce financial pressure on Thanh Hoa Microfinance Institutions, thereby creating conditions for this organization to provide low-interest loans to customers. These loans are used to develop agriculture, small businesses, or invest in projects (DA) that bring stable income...
When cooperating with Thanh Hoa Microfinance Institution, BNP Bank does not only stop at providing capital but also aims for more sustainable cooperation. BNP provides financial consulting programs, shares experience in resource management and provides technical support. This combination helps Thanh Hoa Microfinance Institution improve operational efficiency and optimize capital resources, while enhancing the capacity of beneficiary households and entrepreneurs.
Sharing the same goal of “for community development”, Kiva and Thanh Hoa Microfinance Organization “joined hands” to cooperate quite early, only 3 years after Kiva was established. Through the peer-to-peer lending platform, Kiva has supported millions of people worldwide by connecting donors with individuals and organizations in need of capital to develop the economy and improve their lives. Kiva not only focuses on poverty reduction but also focuses on environmental protection initiatives and promoting gender equality. Under the cooperation program, Kiva provides preferential loans, helping Thanh Hoa Microfinance Organization have more resources to implement financial support projects. This is a testament to the cooperation of the two organizations in improving the quality of life and building a sustainable community. To date, the total amount of money Kiva has disbursed to Thanh Hoa Microfinance Organization is 28.736 million USD, equivalent to 729.5 billion VND.
Similar to Kiva, Lend with Care is an initiative of CARE, established to directly connect donors with entrepreneurs and individuals in developing countries. With a micro-lending model, Lend with Care not only creates economic opportunities but also promotes gender equality and sustainable development in the community. Lenwithcare has cooperated with Thanh Hoa Microfinance Bank since 2021, and has disbursed more than 63 billion VND to date.
In recent times, Thanh Hoa Microfinance Institution has promoted cooperation with The Asia Foundation (TAF) and the Center for Women and Development (CWD) to effectively implement and contribute to spreading the message and profound humanistic meaning of the project "Growing my business". The project was established with the mission of approaching and supporting small and micro enterprises owned by women in Vietnam, helping them improve their capacity and actively participate in the digital economy. In particular, Thanh Hoa Microfinance Institution is one of the local partners, bringing the project to women in Thanh Hoa.
The “Grow My Business” program is divided into three groups with training levels: “Preparing to start a business”; “Starting a business”; “Growing and expanding a business model”. Each level is designed with in-depth content that can be applied immediately in practice, such as: business administration; developing business ideas; using digital tools for marketing and sales; operations management, business registration; customer relationship management: online business; market expansion; financial management, financial reporting. In particular, the program also provides 1-1 consulting services, helping female entrepreneurs and small traders have the opportunity to discuss and solve specific challenges in their business process.
At the end of phase 1, the project attracted 2,563 female students who are entrepreneurs and owners of production and business establishments to participate in online training programs taught by economic experts. Among them, 10 typical customers of Thanh Hoa Microfinance Organization were recognized as typical students who participated in learning and successfully applied knowledge to practical business models, and were honored at the phase 1 closing ceremony. Through this program, students are equipped with the necessary knowledge and skills to consolidate and develop businesses and production establishments; at the same time, they are consulted by experts and have the opportunity to exchange and learn about advanced models. This is Thanh Hoa Microfinance Organization's long-term commitment to accompany the community, bring practical values and contribute to building a prosperous society.
Through preferential loans from international partners, Thanh Hoa Microfinance has supported thousands of customers to start businesses, expand production and business, improve family income, and escape poverty. Ms. Truong Thi Thao (Thach Thanh), a customer who participated in borrowing capital from Thanh Hoa Microfinance, shared: “Our family's situation was very difficult before, we never thought about the future. However, since accessing and borrowing capital from Thanh Hoa Microfinance, my family has more motivation and confidence to strive, work and produce to escape poverty, and life is getting better and better.”
In particular, the cooperation between Thanh Hoa Microfinance and international organizations is a testament to the power of connecting international resources and local needs. This is an important foundation to continue to replicate practical initiatives, bring better lives to the community and promote sustainable development in Vietnam.
Article and photos: Hoang Linh
Source: https://baothanhhoa.vn/san-sang-chia-se-san-sang-hop-tac-237403.htm
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