Leverage to help women members develop the economy

Can Tho City Women's Union surveyed the loan needs of women members of Truong Thanh commune, Thoi Lai district. Photo: Contributor

Ms. Phan Thi Kim Phuong's family in Thanh Di Hamlet, Truong Xuan Commune, Thoi Lai District used to be in difficult circumstances. Previously, Ms. Phuong's husband was a teacher at Truong Xuan 2 Primary School, and she was a security guard, so her salary was low. To earn more income for her family, Ms. Phuong opened a candy and grocery stall next to the school. Ms. Phuong shared: "In 2010, the Women's Union of Truong Xuan Commune introduced me to the capital source of the Golden Hand Program (the predecessor of the Can Tho Fund for the Poor and the Disabled), and I borrowed more than 2 million VND as capital for trading. Over the years, when the loan period ended, I continued to borrow more with the amount increasing each year. In 2024, after quitting my job as a security guard, I borrowed more than 7 million VND from the Can Tho Fund for the Poor and the Disabled to rent a lot and open a shop selling various drinks and breakfast at Ba Dam Market." Thanks to this business, Ms. Phuong earns about 400,000-500,000 VND/day, and the family's economy is increasingly stable.

Ms. Nguyen Thi Phi in Truong Trung hamlet, Truong Thanh commune, Thoi Lai district has borrowed capital from the Can Tho Agricultural Development Fund many times. Previously, Ms. Phi's family faced many difficulties, the family's living expenses only depended on the money from working for hire and the small profits from more than 4 hectares of mixed garden. Ms. Phi said: "In 2016, I borrowed more than 2 million VND from the Can Tho Agricultural Development Fund to invest in breeding pigs. Over the years, I have gradually increased my loans. From the profits from breeding, I continued to invest in renovating the mixed garden, planting 55 Ri6 durian trees. Currently, the durian garden is growing well, preparing for the first fruit season". According to Ms. Phi, the breeding pig model brings her family about 60 million VND/year. Along with that, she and her husband work for hire and deliver bottled drinking water, earning an additional income of about 200,000 VND/day, helping to gradually improve the family's economic life.

Can Tho Women's Fund for Women's Development under the Can Tho Women's Union was established in 2016 from non-refundable aid from the SCI Children's Aid Organization under the Golden Hand program under the project "Strengthening economic capacity for women". The Fund carries out microfinance activities providing small and retail capital to help low-income households borrow capital to develop their economy. Currently, the Fund operates in 13 communes and towns of Thoi Lai district and 7 communes and towns of Co Do district, with a total of 156 lending groups, attracting 2,102 members. The loan amount is about 6.3 million VND/member; the average loan interest rate is 1.19%/month. The superiority of this fund is that it has a suitable interest rate; unsecured loan form; no application fee; receiving capital, paying capital and interest at the Commune People's Committee; paying capital and interest monthly; At the end of the loan cycle, the member repays the loan in full and can borrow a larger amount in the new cycle.

Ms. Tran Thi Bich Tram, Chairwoman of the Women's Union of Truong Xuan Commune, Thoi Lai District, said: "The whole commune currently has 3 loan groups operating in Phu Tho, Truong Tho 1 and Thanh Di hamlets with 146 members participating; total outstanding debt is over 475 million VND. The loan capital of the Can Tho Women's Union is very suitable for low-income members and households in difficult circumstances. Providing suitable loans in the form of monthly installments creates favorable conditions for borrowers to repay principal and interest. The majority of members and women in the commune borrow capital for livestock farming and small business." To promote the effectiveness of loan capital, the Women's Union of the commune regularly disseminates and informs members about the capital source through group meetings. At the same time, it promotes mobilizing members to change the structure of crops and livestock; coordinates to organize training courses to transfer science and technology...

According to Ms. Nguyen Thi Huong Binh, Director of the Can Tho Women's Union Fund for Women's Development, recently, the Fund has expanded its loan sources to members of cooperatives and cooperatives led by women with a loan capital of 30 million VND/household, contributing to the development of cooperatives and cooperatives led by women. Many members have participated in borrowing capital for many cycles, and the economy has developed remarkably from the Fund's capital. In 2024 alone, the Can Tho Women's Union Fund for Women's Development supported 1,370 women members to borrow capital to develop the economy, with an amount of over 16.7 billion VND. In the coming time, the Can Tho Women's Union Fund for Women's Development will continue to develop its coverage throughout Co Do district, focusing on members who use capital effectively; support members to do business according to the cooperative group and cooperative model; coordinate with relevant units to support training in skills for members during the borrowing process...

HONG VAN

Source: https://baocantho.com.vn/-on-bay-giup-hoi-vien-phu-nu-phat-trien-kinh-te-a185376.html