DID – STEP Project


In October 2017, Vietnamese authorities officially approved the Project Document for the Strengthening the People’s Credit Funds network (STEP project). Développement international Desjardins (DID) and the STEP team in cooperation with the Cooperative Bank of Vietnam (Co-op Bank) representatives officially launch the implementation phase of the project in November 2017 with the kickoff ceremonies. The project aims to improve the efficiency of the Cooperative Bank of Vietnam (Co-opBank) and its People’s Credit Fund (PCF) network to supply a range of financial products and services to rural clientele. Développement international Desjardins (DID) will support the Co-opBank and PCFs to revise and implement their development plans. They will also support them in setting up a process to oversee and supervise their risk management tools and internal auditing process. Project activities include: 1) define strategies to professionalize the PCFs and develop tools to help managers, trainers and staff; 2) provide support to the staff in setting up the process to supervise the PCFs, and define the mechanisms to secure operations; 3) conduct a risk analysis of financial operations and loans portfolio; 4) support staff to define the methodology and the tools to assess and develop sustainable financial products and services to meet the needs of clientele; and 5) support training and coaching activities including the transfer of expertise to staff.
Implementing location of the project
  • The North: Hà Nam, Hải Phòng, Hưng Yên, Hà Nội, Ninh Bình
  • The Central: Nghệ An, Hà Tĩnh, Thanh Hoá
  • The South: Kiên Giang, An Giang, Sóc Trăng, Trà Vinh, Đồng Tháp, Cần Thơ
Expected outcomes The expected outcomes of this project include: (1) equipping the Cooperative Bank of Vietnam (Co-opBank) to ensure its People’s Credit Fund (PCF) network capacity building and improved performance of operations; and (2) enabling the PCF to inspire confidence, supply a range of secure financial products and services to meet the needs of rural clientele, in particular women, while ensuring its financial profitability. DID – A Pioneer and Leader in Microfinance For more than 48 years, Développement International Desjardins (DID) has been working to develop the inclusive finance sector in developing and emerging countries. A pioneer in the deployment and development of inclusive finance around the world, DID aims to provide disadvantaged communities with increased access to diversified and secure financial services for all and the development of individual and collective wealth. Active in thirty countries in four continents with a team of over 100 employees, DID is today a leading contributor to the sector. DID is a subsidiary of the Desjardins Group, the leading cooperative financial group in Canada and fifth largest financial institution in the world, with over 7 million members and clients, and assets of CAN $275.1 billion. Founded in 1900 with the goal of increasing financial inclusion for people in Québec and having a strong presence in rural areas, today Desjardins Group is considered to be one of the world’s strongest banks. Co-opBank – Cooperation for mutual development The Co-operative Bank of Vietnam, formerly known as Central People’s Credit Fund, established on August 5th, 1995, was officially transformed to Co-operative Bank of Vietnam in 2013 under the license No. 166/GP-NHNN dated June 4th, 2013 by the Governor of the State Bank of Vietnam. Co-opBank is a credit institution in supporting and promoting the operating effectiveness and efficiency of the PCF system; the apex institution of the PCF network and takes the role of fund intermediating. Since 2016, Co-opbank and DID have jointly developed project “Strengthening the People’s Credit Funds – STEP” which has been officially received approval from Global Affairs of Canada and the Government of Vietnam. The project aims to improve the living standard to Vietnamese in rural areas through better access to financial services. To achieve this result, DID will cooperate closely with Co-opBank to support PCFs as much as possible, so that PCFs can provide better services to its members and ensure profitability, cautiously, sustainability and promote PCF network to become stronger. Accordingly. Co-opBank will also improve the role of the apex institution of the PCF network. People’s Credit Fund (PCF) People’s Credit Fund (PCF) is a network of credit institutions operating by the cooperative model in Vietnam. PCFs operate according to the Law on Credit institutions and Cooperatives Law. Until 31/7/2018, in the whole country, there are 1,181 PCFs in all three regions of North, Central, and South. PCFs have two main operating purposes:
  • Provide banking & financial services conveniently, on a regular, stable and sustainable basis, at an acceptable price so that members can improve their business productivity and gain better profit.
  • Contribute to socio-economic development & poverty reduction, create jobs, reduce shark lending in the areas of PCFs.
Get In Touch With Us
Do not hesitate to contact us if you have any question about the project. We are looking forward to hearing from you.
  • Room 302, Block C, UDIC Complex Building, Hoang Dao Thuy Street, Trung Hoa Ward, Cau Giay District, Hanoi, Vietnam
  • Email: hotro@did-step.com
  • Website: https://did-step.com/
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