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29/01/2013 23:07:14 PM

M7-Uong Bi

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Uong Bi is a city of Quang Ninh province, 120km far from HaNoi. The minorities occupy about 10% of the total population of Uong Bi city. With the changes of the society, Uong Bi now has more factories, industrial zones…which help to improve lives of residents.  However, there still exists a relatively big part of population which can’t fully access the formal financial services


History

March 1995: with the approval of the People’s Committee, Department of Planning and Investment of Quang Ninh Province and Uong Bi People’s Committee, ActionAid Vietnam (AAV) selected Uong Bi to pilot the project “Savings-Credit program for poor women” with Uong Bi Women’s Union as partner.
In 1999: the project expanded its coverage to the whole Uong Bi town. The expansion brought also many challenges, one of which is the legal conditions for microfinance activities. At the end of 2002, Uong Bi Women’s Union took over the project before it was handed over by ActionAid Vietnam. 
August 3rd 2004: Uong Bi Fund for women promotion was established in accordance to the Decision No1585/QD-UB issued by Uong Bi People’s Committee. 

Beneficiaries 
Poor women, female workers and low-income women above 18 yrs old, who volunteer to join the Fund, can get loans from the Fund to assist profitable activities. 

Main activities

- Encourage women to improve their home economic and living standards through providing savings and credit products. 
- Support women in difficulties and disabled children living in Uong Bi town. -
- Conduct women empowering activities. 
- Conduct projects on HIV/AIDS prevention and child sponsorship. 


A training course on microinsurance by CFRC to M7-Uong Bi's staffs.

Purposes
 
- Encouraging women, especially poor women to actively participate in profitable activities, reducing poverty and making better-off lives through savings practice and borrowing loans from the Fund. -
- Encouraging women to help each other in loan management, applying technique innovation into work to improve productivity, participate in social activities.. 
- Helping the childless elderly, the disabled, the dioxin-affected children. 

M7-Uong Bi has been always one of the most dynamic members among the network. However, it still takes more effort to complete the organizational structure in order to make the most of its resources and strength. Furthermore, to gain a more sustainable and long-term development, M7-Uong Bi is currently closely cooperating with CFRC in respect of completing regulations, building capacity… so that it can quickly meet all the requirements of the State Bank to transform into an independent MFI.

Recently, M7-Uong Bi has united with M7-Mai Son and M7-Dong Trieu to form M7-MFI. They have submitted application for license to the State Bank of Vietnam and is now waiting for the agreement from the Bank.


General information
Address: 5th level - Sinh River Supermarket - Quang Trung St. - Uong Bi - Quang Ninh
Tel/Fax: 033 3663 253
Email: m7_uongbi@yahoo.com.vn
Legal representative: Le Thi Hai Yen - Director