Closing Ceremony of Technical Cooperation Project for Vietnam Bank for Social Policies

On October 20th 2011, the Vietnam Bank for Social Policies (VBSP) in collaboration with the Policy Research Institute, Ministry of Finance, Japan (PRI) and Micro Business and Individual Unit, the Japan Finance Corporation, (JFC-Micro), conduct the Closing ceremony for Technical Cooperation Project after over eight launching and implementing years from 2003 to 2011.

Present at the closing ceremony includes Mr. Junji KUYAMA, the First Secretary of Japanese Embassy, Mr. Takayuki HAYASHIDA, Senior Project Formulation Advisor of Japan International Cooperation Agency (JICA), officers of PRI & JFC-micro, Mr. Do Viet Hung, Deputy Director of International Cooperation Division of SBV, MOF officers, the VBSP General Director and functional directors from VBSP Headquarters.

The technical cooperation project has been implemented in three phases:

In Phase I (2003-2006), the PRI, in collaboration with the National Life Finance Corporation (current “JFC-Micro”), conducted seminars to provide knowledge and expertise regarding credit investigation and analysis of small business, skill of customer interview and educational loans to the VBSP Headquarters executives, its Headquarters staff, branch managers. As a result of over three implementation years, 273 VBSP staff attended training seminars in Vietnam and Japan and then VBSP conducted in-house training for 9,893 turns of VBSP staff at branch level. Furthermore, since 2005, PRI has assisted VBSP in formulating its “Credit Analysis Materials”, which include a “Guide for Credit Analysis for Job Creation Loan Program”.

In Phase II (2006-2008), the PRI and JFC-micro gave lectures on the above “Credit Analysis Materials” and expertise on loan management and loans to newly established enterprises mainly to transaction office managers through seminars. As the outcome of these activities, for example, its credit analysis form for the Job Creation Loan Program was effectively revised and its credit analysis by the VBSP only became accepted by the government. Moreover, the seminar participants disseminated what they had learned from NLFC to other staff who had not participated through their in-house training.

In Phase III (2009 to 2011), PRI and JFC-Micro provided seminars to transfer the know-how on developing training materials and training the trainers regarding credit analysis methods of small businesses for enhancement of VBSP training staff ability. As a result of activities, VBSP has organized itself a three-day training course on credit analysis methods for small businesses using the training materials developed by the Training Center staff.

In the closing ceremony, Ms Hidemi KIMURA, Director of International Research and Cooperation – PRI, said “The project focused on enhancement of commercial custom and credit environment in Vietnam. Especially, the VBSP staff not only acquire knowledge and experience from Japanese experts but also utilize into operational practice”.

General Director of VBSP – Mr. Duong Quyet Thang says “VBSP was established in 2003 with just only 1,000 staff. After nine years of operation, up to now the bank has had a total of nearly 9,000 staff with a wide network throughout Vietnam. In particular, VBSP has over 203,000 Savings & Credit Groups, approximately 10,500 communal transaction points of 614 district transaction offices and 63 provincial branches. Currently, the total capital resources of VBSP has reached over VND 100,000 billion, of with total outstanding loan is VND 97,000 billion for over seven million clients. To gain the remarkable achievement nowadays, VBSP has received considerable assistance from international institutions, especially PRI and JFC-Micro, who have made great contribution to strengthening the capacity and skills of VBSP staff since the VBSP’s establishment. In the future, VBSP expects to receive further assistance from PRI and JFC-Micro, not only in technical cooperation but also in other areas such as funding resources”.

Mr. Hisao DAITO, Chief of International Cooperation Office (JFC-Micro) shared his thoughts and feelings when cooperating with VBSP: “Through seminars and meetings within the framework of the project, we know much more about the culture and people of Vietnam. With regards to VBSP staff, we highly appreciate that you are all very enthusiastic about and dedicated to acquiring the knowledge and experiences that we imparted. Personally, I did regard myself as a member of VBSP when I had a chance to work with you to formulate the “Credit Analysis Materials” in 2005 as a credit manual for credit staff in transaction offices. And the success of the project today is a testimony to the close coordination between the two sides in recent years”.

The objective of Technical cooperation Project is to provide VBSP staff with the knowledge and experiences regarding credit analysis for small businesses and newly established enterprises as well as help VBSP formulate the “Credit Analysis Materials”. Moreover, the project also aims to provide experiences and know-how in loan management, education loans and instruct VBSP in developing its training materials as well as training its trainers, towards the new establishment of internal training courses on credit analysis methods for small businesses in VBSP.

Source: VBSP website (