2010 annual review conference

2010 annual review conference

Jan-21-2011

Thanh Hoa fund Poor Women were formally organized the 2010 annual review conference with the participation of all staff and the Fund Management Council to review the past year and set the directions and strategy for 2012.

Overall 2010 has been an eventful year for the country and specifically for the Microfinance Industry in terms of new projects and the contribution from sponsors and other microfinance institutions in the advancement of the microfinance institutions in Vietnam. These are favorable conditions that will support Thanh Hoa Fund for Poor Women’s (FPW) goal to become an official Microfinance Institution under the government’s provision of decree 28 & 165 CP and announcement 68 UBND from the Thanh Hoa People’s Committee.

To build on the accomplishments achieved in 2009, in 2010 FPW’s management has focused on improving the product distribution channels, collecting quality information about the client’s loan need, enlisting the support of professionals to research and modify the current loan products, and implementing new non-financial products, ...

With the steps toward progression mentioned above, in 2010 the fund has achieved the following accomplishments:

Market and Client:

-          During 2010’s fourth quarter expansion efforts, FPW expanded its operation into 6 new wards at 5 of the existing branches reaching 1,493 members new clients, bringing FPW’s total number of clients to 9456 clients.

-          The number of new clients in 2010 met 94.14% of the annual goal, 15.2% more than the number of new clients from the same period in 2009.

-          Outstanding loans: 24.9 billion VND

-          The total amount of funds generated during the year: 32.8 billion

-          Outstanding compulsory savings: 4.5 billion VND

Products and Services:

-          In addition to providing training services, consulting services, and providing microloan and saving products, in 2010 FPW partnered with Post-Telecommunication joint stock Insurance (PTI) to pilot a micro-insurance product at 2 branches (Thanh Hoa city and Hoang Hoa branch); providing micro-insurance to 1,782 clients.

Human Resources:

-          Reorganized management structure.

-          Recruited 8 new staff member.

-          Organized five training courses for more than 70 internal management staff and credit officers.

-          Organized 7 workshops on building business plan with the participation of all staff.

-          Appointed 6 staff to participate in short-term training courses hosted by the Ford Foundation, ADA, and TYM fund organization.

Partnerships:

-          Negotiated and signed agreements for additional financial support with Save the Children Vietnam for the "Support to develop strategic plans" project funded by Cordaid – Netherlands.

-          Maintained and developed relationship with long term partner organization, Kiva.

-          Received approval for funding proposals from the State Bank’s and the Asian Development Bank (ADB).

-          Submitted application and records to the State Bank to establish an official “small” Microfinance Institution.

-          Negotiated and agreed on a support plan with Planet Finance on a project to develop the five leading MFIs in Vietnam.

-          Created a project to develop our Voluntary Savings products for poor and low income households with the funding from the International Labour Organization (ILO).

Another articles: