With the main purpose to help local moutainous and forest dependent people have better access to microfinance for livelihood improvement, hence reducing pressure on forest and biodiversity, MACDI has been working with the USAID Green Annamites Project to implement the activity: “Sustainable livelihood through the Green Finance Funds for forest protection and biodiversity conservation in Quang Nam province”.
“I like the idea that depositing money to the GFF is much safer than keeping it at home. I would love to see if MACDI and GFF could consider applying e-payments like what we have been doing with Viettel Company for e-payment of the PFES policy” (Mr. Michael Greene – Mission Director, USAID Vietnam).
Through this activity, the Project will improve capacity and access to microfinance services for at least 1,800 households, and provide liveli-hood co-benefits to nearly 8,000 people. The Project and MACDI have established the Green Finance Fund (GFF) in Dong Giang district, which provides affordable and timely microfinance services to smallholders. So far, 11 GFF transaction points have been set up in 10 communes and one township. More than 800 local people have been trained in technical, marketing and financial issues, 550 clients have access to microfinance services, and 56 million VND has been deposited to GFF.
“Due to very convenient depositing proce-dures, local farmers can easily access GFF microfinance services such as depositing a tiny amount of money every month, which they can draw out for emergency uses like health and education. When needed, simple borrowing conditions enable them to make a loan to invest in income generation activities”. Ms. Ho Thi Kim Giau – Savings and Credit Officer – Green Finance Fund in Dong Giang District shared.
“With a minimum value of only VND 10,000, these women can put savings into the Green Finance Fund, which they do in commercial banks with such a small amount. Seeing the savings increasing every month gives them joy and make them feel secure” (Mr Do Dang Teo – Deputy Chief of Party, USAID Green Annamites Project).
By accessing financial services, local people will have regular cash flow, which will enable them to invest in other short-term income generation activities serving their daily life. The highlight results has been proven successfully of project. MACDI hope that these activities will implemen continuously in USAID project and others.
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