Beneficiaries who live in Hanoi and HCM City as well as Thai Nguyen and Nghe An provinces, received support in mid- 2011. Funds under the project totaled nearly VND2 billion (US$97,560) in loans from the Vietnam Bank for Social Policies (VBSP) and the TYN Fund under the Vietnam Women’s Union.
As of May this year, most of the borrowers had already repaid their loans, proving that the lending model was effective in assisting HIV carriers and those at risk to integrate into society, said experts at a review meeting on June 14.
“We now have an opportunity to increase access to micro- credit for all qualified individuals and to help eliminate the stigma and discrimination when loan making decision are made,” said Jonathan Ross, director of USAID Vietnam’s Office of Health.
Nancy Natilson, a microfinance consultant with Chemonics International, said that similar microfinance models have helped HIV carriers and high- risk groups in many countries escape from poverty and discrimination, such as in Haiti, Kenya and Cambodia.
The pilot project in Vietnam has also improved borrowers’ lives and made them become more economically independent, thus gaining trust from family and community members, she said.
Tran Van Lanh, one of the recipients of the project in HCM City, was able to start his own cleaning service after borrowing VND20 million (nearly $1,000),
However, for similar models to be replicated in Vietnam, Natilson said there’s a need for more coordinated effort among micro- finance institutions and AIDS support organizations, in addition to further support from the Government.
About $1 million was also pledged by various partners at the meeting, and these funds are earmarked for new loans through the TYM Fund for the 2011- 2015 period.
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