20 April 2010

HANOI, VIETNAM – UNICON awarded ADB contract for Preparing Microfinance Sector Development Program in Vietnam.

The key thrust of Asian Development Bank (ADB) assistance is to support the development of a market-oriented formal microfinance sector consisting of diversified financial institutions including commercial banks, financial cooperatives and microfinance institutions (MFIs), among others, that can provide a broad range of safe and affordable quality financial services to poor and low-income households and their microenterprises in a sustainable basis. ADB assistance focuses on (i) creating a policy environment conducive to microfinance, (ii) developing financial infrastructure, (iii) building viable institutions, and (iv) supporting pro-poor innovations.

The impact of this project will be a viable, market-based microfinance sector with diversified participation of financial institutions.

The Project (PPTA) will be implemented in two parts. Part I will carry out a sector assessment and prepare a sector development strategy. If the Government accepts the recommendations, adopts the strategy and seeks a loan, then Part II will commence to design a loan.

Key stakeholders will include concerned government ministries and agencies (Office of Government, State Bank of Viet Nam, Ministry of Finance), major banks with microfinance operations (Viet Nam Bank for Social Policies, Viet Nam Bank for Agriculture and Rural Development), and microfiannce institutions and mass organizations involved in microfinance.