MOLISA, ILO Jointly Hold Workshop on Microfinance Support

The Ministry of Labour, Invalids and Social Affairs (MOLISA) and the International Labour Organisation (ILO) organized on September 16th an inception workshop of the Microfinance Support Programme.

 

The workshop is held in Viet Tri city of Phu Tho province with the participation of various line ministries, microfinance service providers, training institutions, as well as insurance companies that are all involved in the provision of financial services to poor people in Vietnam.

 

This project is funded by Cordaid from the Netherlands with the technical assistance from the ILO. The project is implemented by The Social Protection Bureau of the Ministry of Labour, Invalids and Social Affairs under the guidance of the Advisory Board whose members are representatives from various line ministries and agencies such as Ministry of Finance, the State Bank of Vietnam, Vietnam Cooperative Alliance, Vietnam General Confederation of Labour, etc.

 

The project aims to promote a better access of sustainable, affordable and diversified financial services by low income groups in Vietnam. 

 

The project emphases on linking training institutions with resource trainers/practitioners in the area of microfinance, exploring innovative channels for distributing savings and insurance products to greater number of poor in rural and remote areas, enhancing financial capabilities of low income groups to enable them to make informed choices on money matters.

 

Mr Nguyen Trong Dam, Vice Minister of the Ministry of Labour, Invalids and Social Affairs said in his speech: “we highly appreciate this project and consider it as a precious experiment for MOLISA to draw out lessons for informing policies and practical lessons toward poverty reduction and risk mitigation. Through the project, we do hope that concerned line ministries and agencies will recognize the importance and ways for effective cooperation between policy makers-Microfinance service providers-Social organizations for the best interest of Vietnamese people especially low income groups”.