Tien Giang Capital Aid Fund for Women’s Economic Development (MOM) operates mainly in the areas of credit – savings to support the poor, vulnerable families especially poor & low income women in remote areas for their small production and business in order to increase income, improve life, and escape poverty sustainably.
Until 30/06/2018, MOM officially has operated at 173/173 communes / wards / towns and served more than 43.500 clients with total portfolio of about VND 286 billion and savings balance of about VND 129 billion. Since 2011, MOM has lent more than 300.000 loans with the total disbursement of more than VND 2.000 billion. At the same time, MOM conducted more than 1.300 free training courses for more than 55.000 clients.
Besides that, MOM pay attention to social welfare activities such as: scholarships for good students of the poor clients and client with disability; provide food packages to the poor customers on Lunar New Year through the program “MOM- Warm spring day”; support to build charity houses for underprivileged members with poor housing condition; run emergency support program for members suffering from natural disasters, dangerous diseases. In coming years, MOM is to gradually increase humanity and charity activities.
In addition, MOM has achieved CMA award of typical Microfinance Organization in 2015 and 2017. In 2018, with our striving, efforts, MOM achieved the CMA prize of excellent Microfinance Organization and received Certificate of Merit from Tien Giang Provincial People’s Committee for its contribution to poverty reduction of Tien Giang women members during period 2011 – 2018.
Under the legal status of a social fund, MOM has complied with the State Bank of Vietnam in risk management, conducted professional training, invested in advanced equipment to ensure stable and sustainable development and maintain social goals.
The natural conditions of Tien Giang are favorable for the development of agriculture and fishery. The timely providing capital support of the MOM to local farmers has contributed to poverty reduction for local community. MOM’s operation has continued growing in many years and exceeded the targets. However, the production and husbandry of clients has seriously affected by natural disasters and epidemics. “Black credit” and traps of consumer loans of financial companies also make significant negative impact to clients.
We thank to the support from leaders at all levels, agencies and departments, the State Bank and Women’s Union at all levels.
On 31/05/2019, Mr. Dao Minh Tu – The State Bank Deputy Governor paid the visit to MOM. He highly appreciated the operation for its contribution to economic development and especially in poverty reduction as well as meaningful social welfare activities.
For sustainable financial development, safe operations, proactive integration in the coming time, MOM will continue to maintain and promote poverty reduction strategies and supervise social effectiveness, prioritize transformation into a formal microfinance organization, seeking cooperation opportunities with domestic and international investors; building better service quality for further development of MOM
