Ms. Nguyễn Thị Phương Thảo has always been a good mother who has sought to do the best for her family. However, the unstable income from seasonal work meant that she and her husband could never earn enough money to ensure a good life for themselves and their children. There seemed to be no easy path to escape from this poverty trap.
A turning point in her life arrived in 2017 when she joined the Vinh Tan Hamlet Microfinance Group (Vang Quoi Dong commune, Binh Dai district) which is supported by MCNV’s micro-finance project in Ben Tre Province.
An initial 5,000,000VND loan from this project enabled her to rear pigs to provide a more stable source of income. The initial success of this loan inspired Thao to encourage seven other women to participate in the project. They acquired further small loans to invest in livestock rearing and to build containers to ensure the supply of water during periods of severe drought.
In addition to rearing pigs and cows, this group of women also purchased sewing machines to provide additional income from garment production. This garment processing activity has been vital during the COVID-19 pandemic, as it has enabled the women to work safely from home whilst still earning an income.
Thao is the leader of this group, and during the COVID-19 pandemic, she has managed to connect the group with a garment company to ensure they have continued to earn an income. Thao has also helped the group to comply with COVID-19 regulations to protect themselves and their communities. Thao’s microcredit group have now saved enough money to purchase several new sewing machines. Her dedication and success, together with MCNV’s support, has enabled the women in her group to earn decent incomes that are resilient to shocks such as COVID-19 and drought. This success has provided a pathway out of poverty and greater prosperity for themselves and their loved ones./.
- The Micro Credit and Saving project in Binh Dai district was launched by MCNV and sponsors in 2009.
- In 2020, the project has been expanded to 11 communes and townships, including Binh Dai township, thanks to the funding of Microcredit for Mothers (MfM) foundation.
- The project has been expanded to 11 communes and townships, providing financial services and facilitate socio-economic inclusion for over 5,000 disadvantaged and poor women, supporting household economy development, response to saltwater intrusion and new rural development.
- Nowadays, the project has become financially self-sustained, and is being conducted with the permission of the State Bank of Vietnam, Ben Tre provincial branch.
