Women-led SMEs helped to better access ADB-funded COVID-19 financial relief

VGP - A enterprise-bank connecting program was held virtually on September 27 to introduce and discuss about the US$5-million COVID-19 relief provided by the Women Entrepreneurs Finance Initiative (We-Fi) to support women-led Small and Medium-Sized Enterprises (SMEs).

September 28, 2021 3:09 PM GMT+7

The event was co-hosted by the Asian Development Bank (ADB), the State Bank of Viet Nam, and the Viet Nam Chamber of Commerce and Industry (VCCI)’s Viet Nam Women Entrepreneurs Council (VWEC), gathering over 300 representatives from women-led SMEs from all over the country.

It offered a platform for banks and enterprises to discuss procedures and conditions to apply for the grant.

The programme formed part of the VWEC’s efforts to help women-led SMEs access the ADB-run COVID-19 Relief for Women-Led Small and Medium-Sized Enterprises Project which is being implemented by five Vietnamese banks.

Speaking at the event, VWEC President Nguyen Thi Tuyet Minh said impacts of the COVID-19 have caused troubles for many enterprises, particularly women-led SMEs.

It is critical to implement the project as fast as possible to effectively aid the affected businesses, she noted.

The programme aims to promptly respond to the current difficult time and it requires the cooperation of all stakeholders, including the ADB, the government, the five banks, VCCI and industry associations, Don Lambert, head of the Private Sector Development Unit at ADB Viet Nam.

It will help deliver the relief as quickly as possible to women-led SMEs suffering financial losses due to COVID-19, he added./.