“We used to be a lasting poor household of the hamlet, then a near-poor, and finally we have been lifted out of poverty,” says Mrs Nhuyen Thi Kim Cuc. “On top of that, the happiest thing is the recovery of my husband from a severe sickness by taking medicines regularly. These days, my children have enough nutritious food and can go to school like others and my family now live in a better house.”
Mrs. Nguyen Thi Kim Cuc, known as Cuc, a client of World Vision Vietnam’s Microfinance Unit (MFU), has continuously strived for a better living by using her small loan cycles, lent to her by the MFU. Her story is like many others who are part of the ‘Out of Lasting Poverty’ movement in rural areas of Vietnam, striving for better financial security.
In the early days of her married life, the only assets Cuc and her husband had was a small plot of land and an old house given to them by her parents-in-law. Their income was completely dependent on her farming the land that was subsidised by the Government, and a humble wage from her husband's job. Their average monthly income had then been only VND 3 million (approx. $130), a sum that put the young family below the poverty line. Amidst these challenges, her husband was also battling chronic Hepatitis B, and his health status was getting worse.
As time went by, the family continuously struggled with living expenses, especially with the basic needs of their children. But Cuc always wanted a way to help her family get out of poverty and achieve better living conditions in the long-term. However, without capital resources to invest and make the change she desired, her efforts seemed hopeless; most lenders would not support her due to the difficult financial position and health status of the family.
Fortunately, in 2018, she was approached by the MFU as a good candidate for a microfinance loan. With VND 10 million (over $400) from the first loan, she was able to invest in a cow and 30 chickens. By raising and selling the chickens and eggs, her family began to earn around VND 120 thousand per day ($5). This source of income enabled the family to repay their first round of the MFU loan. Witnessing the effectiveness of the loan, Cuc decided to continue with a new VND 15 million loan, to construct a cow shed and expand her business with more chickens.
Cuc told us happily, “It’s such good luck. By virtue of the MFU’s loan, I was able to do animal husbandry, increase our income to feed my children and get medicines for my husband. Without the Program, it would have been impossible for me to take care of my family like we do these days.”
Cuc also takes part in the Tu Hai chicken raising cooperative supported by World Vision. Not only is she fully participating in trainings, but she was also provided with 50 additional breeding chicken from the program. Recently, she decided to buy 600 more chickens; with a stable and quality production, her family can now earn over VND 40 million (approx. $1,700) a year from the chicken business. Apart from that, she also gets an amount of about VND 17 million (over $700) a year from the farming. All her effort has finally paid off, especially in 2019, as her family was able to construct a new, more stable house which had been her dream from a long time ago.
Currently, Cuc is in her third loan with VND 18 million (nearly $800) from the MFU, and she continues to expand her business. “I just hope everything will be fine to continue with the fourth, fifth and further loan rounds with the MFU so I can grow the animal husbandry and complete my house,” she smiles. “Thanks to the support of the MFU, my dream is now gradually coming true. I wish the Program will stay longer to help people who are in need like me to improve our living conditions”.