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Dear members and partners of Vietnam Microfinance Working Group (VMFWG)
On behalf of Vietnam Microfinance Working Group (VMFWG), I would like to send you warmest greetings and best wishes.
With the aim of commitment to support the sustainable development of microfinance in Vietnam, through advocacy activities to enable microfinance policy environment, we have been proactively participated in providing information, discussing and working with representatives of the State Bank of Vietnam and the Office of Government in the process of compiling the draft decision of the Prime Minister about the operations of microfinance programs and projects. On this occasion, we would like to express our sincere gratitude to the representative of the International Finance Corporation (IFC), the programs/projects and the members of VMFWG who supported us in developing and giving comments of the Draft. Accordingly, we would like to summarize some main contents in the Draft, as follows:
– The capital was more diversified. However, mobilizing voluntary savings has not been mentioned yet because it relates to liquidity and the capacity of the programs/projects. This issue should be clarified in the official comments to the State Bank;
– Loan size: the maximum of loan size is up to 50 million Vietnam Dong (which is higher than previous size in Decree 28 and Decree 165, 30 million Vietnam Dong);
– Interest rate: have to ensure cover costs.
– Other contents: please see details in the attachment.
On April 21 2015, VMFWG received Document No. 2626 / NHNN-TTGSNH about participating in giving comments to the draft decision of the Prime Minister on the operations of microfinance programs and project (the draft decision in the attachment); VMFWG would like to send you the draft decision to jointly giving comments to develop this decision.
In order to have the factual basis and high representation, VMFWG kindly request you to contribute to the draft decision by answering the below questions and send to VMFWG via email (taichinhvimo@gmail.com and/or info@microfinance.vn) by 5.00 pm on Tuesday, May 5 2015 to gather and send official written comments to the State Bank of Vietnam.
Additionally, VMFWG plans to implement activities to contribute to the draft decision as follows:
– Send an official document to the State Bank of Vietnam with content collected from members and partners of VMFWG;
– Cooperate with the State Bank of Vietnam to organize two workshops in 2 regions (South, North) to directly discuss and interact.
For more information, please download the attachment:
1. Draft Decision of the Prime Minister about Regulations on Microfinance Program and Project
Sincerely,
Nguyen Thi Tuyet Mai
VMFWG’s Managing Director