Enhancing cooperation between Vietnam Women’s Union and Germany partners in Affection Fund Development Cooperation Project

a partner of Affection Fund (TYM Fund) of Vietnam Women’s Union in its working visit to Vietnam to sign an agreement o­n the Project’s cooperation program for 2006.

During the past 2 years, especially in 2005, thanks to active and effective collaboration of the project, TYM Fund has reached encouraging results, reflected in year-on-year increasing total amount of capital, loan balance and membership. Up to 31^st December, 2005, in 16 branches of 7 provinces/cities, the Fund reached out to 21,303 members, an increase of 1,612 members compared with 2004, with a total capital amount of 100.2 billion VND distributed, reaching 134% of the target, an increase of 30.7 billion VND over 2004, total loan balance of 51.4 billion VND, an increase of 12.2 billion VND over the previous year.

To continue supporting Vietnam Women’s Union to turn the TYM Fund into a professional and sustainable financial organization and to provide members with increasing continuous services, in the coming time, the Project will focus o­n assisting the institutionalization and specialization of the Fund, enhancing capacity of tapping fund from local and international organizations and developing human resources, mobilizing savings through redesigning existing saving products, introducing new saving products and marketing tools, developing simpler loan procedures to meet borrowers’ demand, supporting existing services in areas the Fund is operating and expanding to new areas.

At the meeting, Mme. Ha Thi Khiet expressed VWU’s appreciation to the results gained by the cooperation between Germany partners and TYM Fund and hoped for further cooperation to bring about practical and sustainable results in contributing to the poverty reduction process of the country, thus improving the living standard of the people, especially the poor women.