The loan is in line with the "Initiatives on overseas loans and investment for ASEAN announced by the Government of Japan in 2019 and is implemented by utilizing the "Facility for Accelerating Finance Inclusion in Asia: FAIA."
Small and medium enterprises (SMEs) account for 98.7 percent of the total number of enterprises in Vietnam, 45 percent of the country’s gross domestic product and attract 63 percent of employment. However, their access to finance is limited, especially, access to finance is a big hindrance for women-led SMEs.
In accordance with the initiative of the “2X Challenge: Financing for Women” launched by financial institutions of the G7 countries, JICA provides more than 30 percent of the total loan amount for women-owned enterprises through VP Bank.
The loan will contribute to Vietnam’s sustainable economic growth and sustainable development goals on gender equality, building resilient infrastructure, and fostering a global partnership for sustainable development.
VP Bank has been engaged for many years in improving financial access for small enterprises as one of the intermediary financial institutions in the Japanese ODA loan Small and Medium-sized Enterprises Finance Project that was approved in 2009.
JICA has been supporting the enhancement of women's financial access in Vietnam through the technical cooperation project for promoting gender-responsive financial inclusion through Vietnam Women's Union since 2019.
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 20
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 15
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 19
- Mastercard and CARE partner to support 1,000 women entrepreneurs
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 9
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 10
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 11
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 13
- Low credit growth may redirect bank money to securities
- Vietnam, US businesses seek to weather COVID-19 storm
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 14
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 17
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 18
- Latest Coronavirus News in Vietnam & Southeast Asia July 9
- VIETNAM'S BUSINESS NEWS HEADLINES JULY 12
- Take the lead in driving business growth, groups urge women
- Vietnam striving to minimize impacts of climate change
- ADB – HCM City’s important development partner: municipal leader
- High Court Ignores Justice – Bank of England Theft From Venezuela Upheld
- Australia helps Vietnam’s northwestern communities recover from Covid-19
JICA partners VP Bank in promoting financial access for women-led SMEs in Vietnam have 348 words, post on en.qdnd.vn at October 22, 2021. This is cached page on Talk Vietnam. If you want remove this page, please contact us.