BIDV Highlights
Va n Hai
Financial inclusion for women-led SMEs Developing women-led small and medium-sized enterprises (WSMEs) is one of the priorities outlined in the Prime Minister’s Decision No.149/QD-TTg on “National Financial Inclusion Strategy to 2025, with vision to 2030”.
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ccording to “Report on the impact of the Covid-19 pandemic on businesses in Vietnam: key findings from 2020 business survey” released by Vietnam Chamber of Commerce and Industry (VCCI) and the World Bank in Vietnam (WB), micro and small-sized enterprises and those in operation for less than three years were those most affected by the Covid-19 pandemic. The report surveyed nearly 10,200 enterprises nationwide on their views
of the pandemic’s impact on the economy as well as the measures they took in response. It found 90 percent of businesses were seriously affected, with many narrowing or suspending operations or even going bankrupt. The number of enterprises ceasing operations set a record high, at in excess of 100,000. It is the fact that small and micro enterprises, businesses in rural areas, and women-led SMEs are vulnerable groups. They also lack resources for development in the extremely difficult period due to impact of the Covid-19 pandemic. Identifying WSMEs as a separate customer segment that needs special attention and support in the current period, BIDV has studied and promoted financial inclusion with many favorable solutions tailored to this segment.
The “Covid-19 Relief program for Women-led Small and Medium-sized Enterprises” was signed between The Asian Development Bank (ADB) and BIDV in 2020. With ADB's funding, BIDV has issued a Comprehensive Financial Program to minimize the impact of the Covid-19 pandemic on WSMEs. Particularly, eligible customers will be supported up to USD10,000 per customer in the form of interest support for structured loans at BIDV and capital withdrawal commitment fee for new loans at BIDV. In addition, customers may also participate in
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