The garment workshop run by Phan Thị Trúc Phương in Tân Thành Bình Commune, Vĩnh Long Province, has created stable jobs for many local women. — VNA/VNS Photo Lê Thúy Hằng

VĨNH LONG — When Phan Thị Trúc Phương of Tân Thành Bình Commune received her first loan of about VNĐ12 million (US$456) from the fund to support the economic development of women in Vĩnh Long Province in 2017, she invested in sewing machines and opened a small garment workshop.  

Starting with just three or four sewing machines, she gradually expanded her business through several loan cycles and now owns nearly 15 machines. Her workshop has secured stable orders and provides regular jobs for many local women.

"The loans have not only helped improve my family's income but have also created jobs for many local women, allowing them to work close to home while taking care of their families," Phương said.

Her story reflects the experience of thousands of women across the Cửu Long (Mekong) Delta province who have used the fund’s microfinance loans to expand production, increase their incomes and build more secure livelihoods.

The fund is currently operating eight microfinance programmes with outstanding loans of more than VNĐ293.7 billion (US$11.2 million), supporting over 23,000 borrowers.

Its services have reached 81 of the province's 124 communes and wards.

The fund has become an important source of finance for women, particularly those in rural and disadvantaged areas, helping them gain access to formal credit while reducing dependence on high-interest lenders and loan sharks.

Another long-time borrower, Dương Kim Tiếng of Tân Thành Bình Commune, has participated in the fund's programmes for many years.

Her family initially borrowed money to produce coconut fibre. As she grew older and her health declined, she shifted to running a small business while continuing to access the fund's loans to maintain a stable income.

Women in Cái Vồn Ward receive loans from the fund to support the economic development of women in Vĩnh Long Province. — VNA/VNS Photo Lê Thúy Hằng

Beyond lending, the fund provides training courses, workshops, business planning guidance and technical support to help women use the capital effectively and develop sustainable household businesses.

Its workshops have attracted nearly 1,500 participants from 22 communes and wards so far this year. They provide a forum for participants to exchange experiences, share successful models and discuss ways to improve microfinance services.

The fund is also expanding lending to projects linked to traditional occupations, co-operative groups and co-operatives in an effort to create more jobs and increase the value of local products.

The fund allocated more than VNĐ1.4 billion (US$53,300) to social welfare programmes last year. These activities include providing Tết (Lunar New Year) gifts, scholarships, health insurance support and houses for disadvantaged women.

Nguyễn Thị Kim Thoa, chairwoman of the Vĩnh Long Women's Union and chairwoman of the fund’s management board, said: "The establishment of the fund has timely met the needs of women members to develop household economies.”

“It has provided capital, opportunities and confidence, enabling women to take greater control of their family finances and gradually strengthen their position in society."

With average loans of more than VNĐ22 million ($840), many borrowers have successfully established or expanded family businesses, particularly in livestock farming, small-scale trading and crop cultivation.

Phương hopes the programme will continue to grow so that more women can benefit.

"I hope the fund will continue to expand so I can buy more sewing machines for workers to use at home. This will help women with young children or those in difficult circumstances earn a stable income," she said. — VNS