2015 CITI-VIETNAM MICROENTREPRENEURSHIP AWARDS (CMA 2015).

The 2015 Citi - Vietnam Micro entrepreneurship awards was held at Hanoi Pullman Hotel in the late evening of December 4th, 2015. The ceremony honored 3 excellent organization, 30 typical micro entrepreneurs and 1 individual who has made the most positive contribution to Vietnam's microfinance in 2015. Among those represent, MFCDI honorably won 3 awards for excellent individuals.

 

This anual award, which is sponsored by City Fund Citi-Vietnam Bank, aims to recognize microfinance entrepreneurs and organizations that have made excellent contributions to the development of microfinance in Vietnam, as well as played a positive part in the poverty reduction efforts.

This year, MFCDI sent applications of 5 entrepreneurs and honorably won 3 individual awards for 3 clients borrowing from MFCDi, including Mrs. Bui Thi Chau ( Lac Son- Hoa Binh branch ), Mrs. Bui Thi Thuy ( Lac Son - Hoa Binh branch) and Mrs. Nong Thi Thuy ( Bac Kan branch ) .

Mrs Bui Thi Chau - The typical microfinance clients of 2015

Mrs. Chau's family is ranked among the poorest families in her commune. In 2008, Mrs. Chau took out a loan of 5 million VND from Vietnam Social Policy Bank to rear chickens and pigs. However, severe and long lasting cold weather, together with Mrs. Chau's lack of experience in preventing livestock's diseases, finally led to the serious loss of her livestock. In 2011, following the dedicate instructions of MFCDI's loan officers, Mrs Chau was able to borrow 5 million VND, as well as get training on both growing and breeding techniques. Thanks to that initial capital and the knowledge Mrs. Chau masters, she not only earns income from rearing chickens and pigs, but also gains further capital to invest in farm expansion. Her family manages to get annual profit of around 120 million VND so far.

Mrs. Bui Thi Thuy - The typical microfinance client of 2015

Back to 5 years ago, Mrs. Thuy's family faced tremendous difficulty in their daily life. Poverty was the very reason that caused disputed among the family's members, and made it impossible for their kids to get proper education. In 2011, thanks to 5 million VND, a small capital amount from MFCDI and thanks to the chances of attending training courses about business startups, farm technique instructions...which are rendered by MFCDI's experts, Mrs. Thuy currently owns 2 big stores in her districts. Her store provides agricultural materials and products to 15 communes in Lac Son district and 4 communes in Tan Lac district. Mrs Thuy's kids are now all enrolled in schools and the whole family can enjoy a more pleasant and happly life.

Mrs Nong Thi Thuy - The typical microfinance clients of 2015

Mrs Nong Thi Thuy is a single mom. In addition to take care of her little kids. Mrs Thuy also nurses her old mother aged 70. In the old days, her family's life was extremely difficult. In 2006, she borrowed a loan of 8 million VND from Vietnam Social Policy Bank to raise chickens. However, owing to severe weather conditions and lack of livestock-rearing-knowledge, Mrs Thuy lost almost all of the chickens she had. In 2008, thanks to the encouragement of Communal Women Union and MFCDI, Mrs Thuy was able to borrow 2.5 million VND to start running a small general store. Until 2010, after getting to know about a mushroom growing model, this brings about high economic benefits. Mrs Thuy was allowed to borrow 15 million VND from MFCDI. Thanks to Mrs Thuy's struggles and MFCDI's support, up to 2014, her family há gained a total income of 120 million VND, and offered regular employments for 10 local laborers.

Clients of MFCDI can always borrow to develop producing and selling business, as well as join other financial and non-financial activities. They not only have chances to get trained and instructed about farming techniques, gender, business but also have chances to become typical micro entrepreneurs to be honored in CMA program. This award not only recognizes client's efforts, but also motivates them to make more struggles to get themselves out of poverty, gain prosperity and set as good examples for other clients. Hopefully more and more clients of MFCDI will be honored in CMA programs hold annually in the upcoming time.

Previously, the State Bank of Vietnam, the International Finance Company (IFC) and the Consulting Center of Microfinance Resources for SMEs ( formerly as Vietnam Microfinance Working Group), had co-organized a Seminar called " Legal framework and resources for sustainable development of microfinance in Vietnam ". The seminar gave updates on legal regulations and orientations for completing legal documents about microfinance activities in Vietnam, as well as preliminarity summed up the performance of Decision No 2195 of period 2012-2014. The seminar was co-sponsored by the Citi Fund, the United Oversea Bank, ADA organization, MetLife organization and the Economy Minister of Switzerland ( SECO ) - Vietnam 2015.

 

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