Ha Noi, 12 December 2016 – Microfinance Unit of World Vision Vietnam is honored today as one of 3 “Citi – Vietnam 2016 Typical Microfinance Institutions”.
In the ceremony of the Citi Microentrepreneurship Awards program – Vietnam 2016 (CMA 2016) held today in Hanoi, World Vision's Microfinance Unit in Vietnam was named among three microfinance institutions that are making a significant achievement in effectively helping the poor to thrive from small loans and technical supports.
The award came as part of an annual event sponsored by the Citi Foundation/Citi Bank – Vietnam, to value customers and microfinance institutions that are making outstanding contributions to the development of the microfinance sector in Vietnam and contributing positively to poverty reduction.
Two clients from World Vision Vietnam’s Microfinance Unit were also among the individual honorees.
Ms. Phung Thi Thuy in Lang Chanh, Thanh Hoa, is "Citi – Vietnam 2016 Microentrepreneur of the Year", the highest individual title.
While Ms. Truong Thi Hong from Trieu Phong, Quang Tri, is among 30 “Citi – Vietnam 2016 Achieving Microentrepreneurs”.
The honors are the recognition of the efforts by Ms. Phung Thi Thuy and Ms. Truong Thi Hong to escape poverty. With modest loans and hard-work from their own hands, they have improved their family economy and at the same time contribute creating livelihoods for their communities.
It is also a recognition of the efforts by World Vision's Microfinance Unit in Vietnam to provide poor households with appropriate economic assistance, helping communities to thrive while ensuring child well-being, which is the very target of World Vision.
After 10 years of operation, World Vision's Microfinance Unit in Vietnam has disbursed 670 billion VND to more than 29,000 households, creating seed capital for the poor and low income to set up and or expand their business, generating jobs and increasing assets and income. As a result, the quality of life and wellbeing among children has improved in the communities where we work.