Citi approaches more to the poor with microfinace services
Thursday, 28. August 2008, 05:15:19
The Asia Microfinance Forum is held in Hanoi from Aug 26 - 29 by Banking with The Poor Network (BWTP), funded by Citi Group. The forum focuses on challenges and innovations that will have the greatest impact on microfinance in the next decades and discuss implications for the microfinance sector in Asia.
About 300 leading microfinance practitioners, policymakers, financiers, academics and advocates from around the world to outline their visions and priorities, and explore new ideas and opportunities.
Participants conference on challenges for increasing finance and investment in the sector, the need for the poor to build savings and assets, roles of microfinance networks and how it can contribute to environmentally sustainable development of developing countries.
Vietnam has applauded for its effort of poverty alleviation in the recent 2 decades. "Rate of poor household according to international criteria in Vietnam has decreased from 58% in 1993 to 14.7% in 2007”, Mr. Nguyen Van Giau, Governor - State Bank of Vietnam, states in his welcome note.
The economic situation year 2008 is on complicated move with high shadow of world inflation trend, we are facing with the increasing of poor families", said Mr. Nguyen Van Giau, citing that the country would launch suitable measures to cope with the situation.
Vietnamese real GDP per capita in 2007 was USD 835, and is focused to be at USD 900 by the end of this year. People living in rural and mountainous area, the figure is much lower than those in urban.
Vietnam started the poverty alleviation program in 1998 under the name of Program 135, after the decree number 135 by the Government. The first phase of the Program 135 was implemented between 1999 - 2005 with total fund of VND 8,400 billion. The second phase is from 2006 - 2010 with total fund of VND 12,950 billion, mainly improving infrastructure in rural and mountainous areas.
While, microfinance program aims at bringing more financial service to the poor. "We want this conference to showcase the initiatives that could meet the increasing demand for microfinance services, both in Vietnam and across Asia", said Chandula Abeywickrema, Chairman of the Banking With the Poor Network.
In Vietnam, Citi fund - Citi Group and Save the Children Fund - US initiated the microfinance program in 2001. Over 8 years of operation, the program has supplied over VND 85 billion (USD 5 million) for 90,000 clients in Thanh Hoa province./.
*** GDP growth at 8% in recent years has pushed up the gap between rich and poor. A worker's transporting material for ceramic production in Bat Trang village.
About 300 leading microfinance practitioners, policymakers, financiers, academics and advocates from around the world to outline their visions and priorities, and explore new ideas and opportunities.
Participants conference on challenges for increasing finance and investment in the sector, the need for the poor to build savings and assets, roles of microfinance networks and how it can contribute to environmentally sustainable development of developing countries.
Vietnam has applauded for its effort of poverty alleviation in the recent 2 decades. "Rate of poor household according to international criteria in Vietnam has decreased from 58% in 1993 to 14.7% in 2007”, Mr. Nguyen Van Giau, Governor - State Bank of Vietnam, states in his welcome note.The economic situation year 2008 is on complicated move with high shadow of world inflation trend, we are facing with the increasing of poor families", said Mr. Nguyen Van Giau, citing that the country would launch suitable measures to cope with the situation.
Vietnamese real GDP per capita in 2007 was USD 835, and is focused to be at USD 900 by the end of this year. People living in rural and mountainous area, the figure is much lower than those in urban.
Vietnam started the poverty alleviation program in 1998 under the name of Program 135, after the decree number 135 by the Government. The first phase of the Program 135 was implemented between 1999 - 2005 with total fund of VND 8,400 billion. The second phase is from 2006 - 2010 with total fund of VND 12,950 billion, mainly improving infrastructure in rural and mountainous areas.
While, microfinance program aims at bringing more financial service to the poor. "We want this conference to showcase the initiatives that could meet the increasing demand for microfinance services, both in Vietnam and across Asia", said Chandula Abeywickrema, Chairman of the Banking With the Poor Network.
In Vietnam, Citi fund - Citi Group and Save the Children Fund - US initiated the microfinance program in 2001. Over 8 years of operation, the program has supplied over VND 85 billion (USD 5 million) for 90,000 clients in Thanh Hoa province./.
*** GDP growth at 8% in recent years has pushed up the gap between rich and poor. A worker's transporting material for ceramic production in Bat Trang village.
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