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The second phase of credit project between Vietnam and Belgium summed up.

This morning, June 16 2006, the provincial Women Association has held a conference to sum up second phase of credit project between Vietnam and Belgium in the period of 2002-2006 and discussed issues and methods related to the implementation of this project.

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Mrs. Nguyen Huynh Ngoc, representative of the Central Project Management Panel, is speaking at the conference

Dong Nai is one of the 10 provinces in the country to carry out the second phase of this project in July 2002 and finish in April 2006. At first, the Central Management Panel of this project has loaned about 1.5 billion VND to over 1,500 members in 10 communes and wards of Long Thanh district, Nhon Trach district and Bien Hoa City. By April 2002, 3,833 women have participated in 404 groups in 88 zones. This project aims to loan money to poor women to overcome poverty. Each woman will be granted a loan of 1 million with one year duration and the capital repayment is implemented basing on the recursive payment method.  Now, the fourth borrowing circle is ended and the capital of the project in the province is accumulated nearly 1.5 billion VND. Over 4 years of operation, many groups and zones are operated well and some others also admit more members. All members have used the loans for the right purposes. There are no overdue debt and capital losses.

At the conference, many suggestions and solutions have been given out for the implementation of this project in order to get better results in third phase. The conference focuses on the following issues increasing the amount of loan, reducing the numbers of patrons, etc so as to make the procedure more effective. Speaking at the conference, Mrs. Nguyen Huynh Ngoc, representative of the Central Project Management Panel unveiled that in the third phase of this project there will be no allocation funds for communes. The project will focus on sponsoring the businesses of its members. 

(Translated by THKC)

Author: admin

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