‘Capital Aid Fund for Employment of the Poor’, a Vietnamese non-profit microfinance organisation, has provided loans of nearly VND8,000 billion to more than 1.5 million workers so far, to overcome poverty.
Tran Thanh Hai, vice chairman of the Ho Chi Minh City Labour Union said on October 13 that the fund had helped more than 5,000 of its members to overcome poverty year-on-year, by provided loans at very low interest rates.
The fund was established with an initial capital of VND480 million. To date, the fund has a capital of more than VND850 billion with 26 branches nationwide.
Capital Aid Fund for Employment of the Poor (CEP) is a non-profit institution that operates in provinces in Southeast Vietnam and in the Mekong Delta. The CEP Head Office is located in Ho Chi Minh City.
CEP’s mission is to work with and for the poor and the very impoverished to make incremental and sustained improvements in their well-being, by providing both financial and non-financial services, to be dispersed in an honest, efficient and sustainable manner.