This post is also available in: Tiếng Việt (Vietnamese)
Dear VMFWG’s members and partners;
On January 20, 2020, Prime Minister signed Decision No. 149/QĐ-TTg on Decision on Ratification of National Financial Inclusion Strategy To 2025 With Orientation To 2030. This is an important document for the development of the financial industry towards Financial Inclusion goals. Accordingly, microfinance plays an important role in implementing Financial Inclusion. To be more specific:
- Development of a system of microfinance organizations, programs, and projects that operate safely, effectively and sustainably, aiming at serving the poor, low-income people, women and microenterprises with flexible and appropriate financial products and services, contributing to the implementation of the Party and State’s policy on ensuring social security and sustainable poverty reduction;
- Reviewing, amending, supplementing or issuing new legal documents in order to create favorable conditions for mobilizing social resources, encouraging the participation of all economic actors in microfinance; build and develop a system of microfinance organizations, programs, and projects that operate safely and effectively, expand access to financial services for the poor, low-income people, women and micro businesses;
- Research and create conditions for non-bank organizations with wide networks or operating areas in rural and remote areas (such as people’s credit funds, microfinance institutions, post offices, gas stations, networks of telecommunication organizations, networks of some other non-bank organizations …) to become agents of banks in order to quickly expand the scope of financial service supply points.
- Developing a system of microfinance organizations, programs and projects that operate safely and effectively, expanding access to financial services for the poor, low-income people, women and micro businesses
- Encourage microfinance organizations, programs and projects to diversify products and services for the poor, low-income people, women and microenterprises; encourage the development of an cooperating model of commercial banks with microfinance organizations, programs and projects; encourage cooperation between microfinance organizations, programs, projects and financial technology institutions to enhance technology application to provide simple, convenient and low-cost services to people. in rural, remote and isolated areas;
- Supporting microfinance organizations, programs and projects in accessing preferential capital sources; strengthening the socialization of support and participation in contributing financial resources in the provision of microfinance products and services;
- Encourage microfinance institutions, programs and projects to participate in promoting financial education;
- Facilitate and encourage socio-political organizations, local authorities and non-governmental organizations to actively participate in and support microfinance development
For more detail, please read in the file attached here. (The English version is an unofficial translation made by STEP project of Desjardin International Development).