Hanoi urged to streamline grassroots credit support
The municipal women's union fulfils its political goals with efforts to strengthen grassroots engagement and policy outreach.
THE HANOI TIMES — The Vietnam Women’s Union (VWU) has urged its Hanoi chapter to expedite the opening of bank accounts to facilitate lending to its members.
This request was made by VWU President Nguyen Thi Tuyen during a working session with the Hanoi Women’s Union on July 21.
VWU President Nguyen Thi Tuyen (center) speaks at the meeting with the Hanoi Women’s Union. Photo: Hanoimoi Newspaper
Tuyen emphasized the importance of grassroots organizations in helping their members make the most of loans by providing training in business startups and collective economic development.
Chairwoman of the Hanoi Fatherland Front Committee Nguyen Lan Huong echoed this view, urging the Hanoi Women’s Union to support its members' access to credit sources and empower women to contribute to the city's socio-economic growth.
She praised the VWU for supervising entrusted lending activities, which helped Hanoi's chapter address operational challenges.
She called on the Vietnam Bank for Social Policies (VBSP) to coordinate with the Hanoi Women's Union to improve loan appraisal, disbursement, and oversight.
According to Hanoi Women’s Union Chairwoman Le Kim Anh, these directions will enable the organization to continue cooperating effectively with banks, overcome difficulties in transitioning to a two-tier model, and fulfill its assigned missions.
An event co-hosted by the Hanoi Women’s Union and the Hanoi Department of Agriculture and Environment. Photo: Thinh An/Kinh te & Do thi Newspaper
At the meeting, Pham Thi Thanh Huong, the Standing Vice Chairwoman of the Hanoi Women’s Union, reported that her organization ranks first nationwide in being entrusted by banks to extend loans to the poor and policy beneficiaries.
As of July 17, the union managed over VND9.4 trillion (US$359.5 million) in outstanding loans, accounting for 53.4% of the VBSP’s Hanoi portfolio, with a non-performing loan rate of just 0.01%.
However, challenges remain due to recent leadership reshuffles at commune-level unions and loan application issues.
The Hanoi Women's Union has organized nearly 600 events on legal counseling and supporting repatriated women victims of human trafficking and abused children, in addition to assisting more than 2,700 disadvantaged households, helping 243 women start businesses, and establishing five cooperatives managed by women.
