Oxfam’s office in Vietnam has launched a new impact investing program to support social enterprises in the country.
Through this program, it will be providing preferential and unsecured loans between €10,000 in startup funding and €1.5 million in expansion funding to social enterprises that change the lives of small-scale farmers, women, and youth.
In addition to financial support, Oxfam, in partnership with the Centre for Social Initiatives Promotion, will provide training to social enterprises to strengthen their capacity so they become more impactful and ready for future investment. Social enterprises will get four to six months of free tailored coaching.
Oxfam is also implementing this program in Nigeria and Uganda.
Nguyen Le Hoa, the director of Oxfam Vietnam, said in a blog announcing the program (in Vietnamese) that social enterprises are an important piece in the sustainable development of the economy and creators of positive societal impact, but have a hard time accessing capital and markets as well as building effective business models.
Oxfam suggests this is a natural next step since it has been supporting small-scale farmers and microfinance entrepreneurs with grants and loans for decades.
Information about the program and application process can be found on the Oxfam Vietnam blog.
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