1. Background Information
Foundation to Supports Low-Income Households and Economy Development (also known as the VietED Foundation) is a charitable organization established on April 28th, 2011 by Decision 977/QD-BNV of the Ministry of Interior, operating under Decree No. 148/2007/ND-CP dated 25/09/2007 of the Government. VietED Foundation was created with capital contribution from the founding members. The Foundation can generate operating fund by offering services on a fees-paid basis, soliciting donations, receiving voluntary contributions from individuals and organizations based in Viet Nam and outside the country. VietED Foundation is a not-for-profit organization aiming to reduce the vulnerability and improve the business skills and livelihood of households, especially low-income households living in rural, mountainous and/or extremely difficult areas.
VietED Foundation was established by a team of microfinance and community development experts who have great experience in designing and implementing microfinance and community development projects funded by international NGOs, the Ministry of Science and Technology, the Ministry of Agriculture and Rural Development, and the Viet Nam microfinance network. Inspired by the share desire to contribute more to community development and poverty reduction, the team gathered in April 2011 to create VietED Foundation, VietED’s goal is to become a legal and professional organisation that can optimise internal and external resources to serve the economic development of low-income households. Ever since the establishment of the Foundation in 2011, VietED staff strives to build a professional and creative organisation. Besides offering quality microfinance services to low-income clients, the Foundation also offers consultancy and capacity building services to other microfinance organisations to help improve their product and service quality as well as increasing their sustainability.
Licensed to operate at the national level, VietED Foundation focus on supporting the economic development of Vietnamese households through the research and application of advanced science technologies and successful economic models. The Foundation’s main functions are: – To mobilize donation and investment capital to provide microfinance services to low-income households and micro-enterprises. – To test, evaluate and replicate sustainable models in microeconomic and agricultural development such as new livelihood development, business skills building, financial support, market connection, and agricultural products branding. – To offer training and capacity building in the fields of microfinance and business development; provide technical extension services in the fields of agriculture, forestry and fishery to household to help them use their loans efficiently for business development. With the slogan “Poverty Reduce Together”, VietED Foundation always tries best to become a professional consultant organization with services provided nationwide to support the linkage between community and resources, also ensure missions of VietED group: financial linkage, market linkage and knowledge linkage.