Ha Dong – the first urban district in Hanoi deployed TYM’s microfinance activities

10/03/2020

After four months of operation in Ha Dong district, with the attention of local leaders and the Women’s Union at all levels, TYM has initially achieved good results here.

On the 16th of October, 2019, with the consent of local leaders, and facilitated by the Women’s Union at all levels, TYM held a launching ceremony to deploy activities in Ha Dong District, Hanoi. Ha Dong area is under the management of Me Linh Branch of TYM. Ha Dong is the area closest to Hanoi city center that TYM has opened its operation as of the end of February 2020. This will give low-income women in the heart of Hanoi city the opportunities to access to TYM’s loans as well as deposit savings at TYM.

By the end of February 2020, TYM in Ha Dong is operating in Phuc La and Duong Noi wards with 145 members and clients with VND 4.3 billion of loan outstanding. Currently, members who are taking out loans to invest in their small businesses. From March 1, 2020, savings deposits at TYM by customers in Hanoi’s urban districts will be handled by TYM staff in Ha Dong district.

In parallel with credit-saving activities, on the 27th of December, 2019, TYM organized a free health examination and provided free medicine for 30 members here. In the coming time, TYM will continue to expand its operations to many other wards of Ha Dong district, and implement other community support activities.

Currently TYM has been present in 13 provinces / cities of Vietnam: Hanoi, Bac Ninh, Hung Yen, Vinh Phuc, Bac Giang, Hai Duong, Thai Nguyen, Phu Tho, Thai Binh, Nam Dinh, Thanh Hoa, Nghe An and Hai Phong. In particular, TYM’s operations cover 77 districts / towns with 700 communes / wards and towns and serve more than 160,000 members and customers. In 2019, TYM disbursed more than VND 3,492 billion and raised VND 1,699 billion from members and the public.
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