On April 22nd 2017, Ms. Monique Smiers and Ms. Hoang Phuong Phi, two delegates from Hulza Foundation, Netherlands have visited MCNV’s microfinance project in Binh Dai district, Ben Tre province. They visited Thoi Lai commune, where a new microfinance project was started in December 2016 with the financial support from Hulza Foundation.
Thoi Lai is one of 9 communes in the microfinance project run by MCNV and Women’s Union. After 4 months of implementation, Thoi Lai has been providing microfinance services to 138 poor women from the initial capital of Euro 20,000 funded by Hulza. Among them, 94 households used their micro loans to build high-capacity water containers to retain rain water to meet domestic consumption and livestock needs during dry seasons. 43 others borrowed to invest in their home business. The project also gives 1 loan for production group and 13 loans to buy health insurance.
Ms. Monique and Ms. Phi has visited 8 households and joined a credit group meeting. The poor women in Thoi Lai were very happy to show them new water containers, which was a great help for health of people and livestock in the drought and salinity disaster recently. Members of the project also learned much knowledge on
financial literacy and production skills in the exchange session during monthly group meetings.
After the visit, Ms. Monique shared “Thanks to the effort from MCNV and partners from Women’s Union, Hulza could use their funding in a real microfinance project. I believe that we have made the right choice to support Ben Tre and our funding will create more social and economic benefits to the poor women in a sustainable way”.