Society

ADB provides capital for poor Vietnamese people

Two microfinance organisations of Vietnam will receive capital from the Asian Development Bank (ADB)’s fund to help the poor.
Two microfinance organisations ofVietnam will receive capital from the Asian Development Bank (ADB)’sfund to help the poor.

The organisations are the Capital Aid for Employment of the Poor fund(CEP), which will receive 110,000 USD, and the Compassionate fund(TYM), which will be provided with 147,000 USD.

These fundings will be given to the poor as loans ranging between500,000 VND and 30 million VND (about 3 million VND in average), with aninterest of 1-1.5 percent per month.

The lending period will be from 3-24 months and the loan payment willbe made weekly or monthly./.
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