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Mai Son Fund for Assistance to Ethnic minority Women

Mai Son Fund for Assistance to Ethnic minority Women currently operates at 12/21 communes and towns of Mai Son district, where many ethnic groups live, including ethnic minorities accounted for 80% (Thái, H’mông, Sinh Mun). The percentage of poor household is still high-37%, low intellectual level. Main occupation is agriculture and animal husbandry, staple crop is maize. Little farming land, there is infertile soil but people couldn’t invested because of the lack of capital, leading to the increase of deforestation to find fertility soil, ecological imbalance, flooding and drought frequently occur. In addition, idle labor force is large in here. Supported demand conditions for economic development, improve the lives of poor people is necessary, especially access to microfinance, scientific and technical services, market information and other social services.


In recent years, people have access to credit to start small businesses, improve production and animal husbandry in the market economy. Currently, the Fund's clients are poor women, ethnic minorities and low-income people in 12 communes and towns of the district. In the district is still a large potential market; these are the poor in 9 communes of the district do not have access to credit sources.

Business objectives from 2008 to 2012
Increase the financial services provided to 4,600 clients and 2,000 new clients (poor women) in one new branch of the district. The rate of return is 99% and 25% of the outstanding principal is mobilized from client’s savings.
Mai Son Fund for Assistance to Ethnic minority Women seeks funds to expand financial services through the systems of 5 transaction offices in the total of 13 communes, towns and one expanded commune, bring the total membership to 8.600. Capital to expand financial services will be sought from donors and Cordaid preferential loans and savings mobilization. In particular, funds from Cordaid will provide financial services to the existing 2,000 clients and 2,000 clients in expanded branch. All services will be provided with a financial interest to ensure the sustainability of the organization. The recovery of the principal is 99% and minimum 25% of poorest clients participating in the Fund's loans.
In order to achieve this fundamental objective, Mai Son Fund considered the improvement of staff ability and management, promoting human resources operate effectively.
Improve and develop new products
Loans and savings products of the Fund improved every year to match demand and local economic conditions. Diversification of the loan, the loan term, the purpose of use of capital and return on the needs of clients to ensure the good recovery of capital and easy access by the poor. Mai Son will join the Security Mutual Fund - M7, Product of the Mutual Fund will be designed on the basis of the results of the needs assessment. Specifically:
In 2008: will conduct a need assessment, with the help of RIMANSI will design suitable micro-insurance products and will conduct staff training and set up Mutual Fund office in the area of the province.
• In 2009: upgrade existing loan products (such as loan size, loan term) in accordance with member needs, expanding old-age savings products. Continue to provide loan and saving services for all the members.
• In 2010: evaluation of all products, improvement and completion of services, and continue to provide services to all members.
Currently, the Fund is mobilizing capital to reach the legal capital of VND 05 billion to early register to become the Microfinance Institution by Decree 28.
The Fund complies with all the requirements of Decree 28.Conducting independent audit process. Applying the management software. Mobilizing capital to reach the legal capital of VND 05 billion. The management board of the Fund will prepare dossiers and procedures for licenses, will recruit and train qualified staff to meet with the new management.

On the basis of the achievement of the basic criteria for three years, the Fund will complete the targets to 2012 to get a growth rate of the indicator of members, lending, total assets and profits ...to get a sustainability of microfinance institutions in the M7 system