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On October 15, 2015 Viet Nam Microfinance Working Group received Document No. 8411/VPCP-KTTH dated October 15, 2015 Government Office regarding to allocating funds for supporting microfinance activities.
Pursuant to the request of Ministry of Finance for allocating privileged low interest rates with long terms to support microfinance activities from Vietnam General Federation of Labour, comments of Ministry of Planning and Investment according to Document No. 6565/BKHDT-TCTT dated September 6, 2015, comments of the State Bank of Vietnam according to Document No. 6865/NHNN-TTGSNH dated September 10, 2015, comments of Vietnam General Federation of Labour according to Document No.1373/TLD dated September 1, 2015, Prime Minister has some following requests:
- Vietnam General Federation of Labour works with Ministry of Finance and Ministry of Planning and Investment to define annual capital needs, proposes to authorized level to decide the allocation of National Budget for supporting Capital Aid Funds under Vietnam General Federation of Labour as the direction of Prime Minister according to Document No. 206/VPCP-KTTH dated January 12, 2015 by Government Office.
- The State Bank of Vietnam hosts and collaborates with Ministry of Finance and Ministry of Planning and Investment to do research, supplement the draft Decision of Prime Minister on operations of microfinance projects, programs mentioned in Article 161, Law on Credit Institutions: regulate the allocation of privileged funds for microfinance projects, and programs to re-lend the poor.
- The State Bank of Vietnam hosts and collaborates with Ministry of Finance and Ministry of Planning and Investment to do research, issue or propose to authorized level to issue privileged funding policies for microfinance institutions licensed by the State Bank of Vietnam and manage to enhance funds for re-lending the poor.
Please see the document here