On July 6, 2023, in Ho Chi Minh City, with the agreement of the Vietnam General Confederation of Labour and the Ho Chi Minh City Confederation of Labour, the Capital Aid For Employment Of The Poor Microfinance Institution (CEP) will hold a signing ceremony in collaboration with Provinces Confederation of Labour in the prevention of “Usury” among Workers.
Over 31 years of operation, as a non-profit MFI, CEP has effectively implemented capital support for low-income workers, contributing to preventing “usury” and helping workers improve their lives.
Given the negative impact of “Usury” on the lives of workers, under the direction of the Vietnam General Confederation of Labour, CEP is going to organize the “Signing Ceremony of Cooperation between CEP and Provinces Confederation of Labour in the Prevention of “Usury” among Workers” to enhance coordination, commitment, responsibility, and effectiveness in caring for and protecting the rights and legitimate interests of workers, minimizing the harm of “Usury”, and thereby enhancing the role and reputation of the Trade Union Organization.
The signing ceremony will be attended by the Leaders from the Vietnam General Confederation of Labour, the Ho Chi Minh City Party Committee, the State Bank of Vietnam – Ho Chi Minh City Branch, the Ho Chi Minh City Confederation of Labour and 09 provinces in the Southeast region, the Mekong Delta where CEP operates (Binh Duong, Dong Nai, Tay Ninh, Long An, Ben Tre, Tien Giang, Vinh Long, Dong Thap, and An Giang); representatives of grassroots Trade Unions and CEP customers affected by “Usury”.
The focus of the signing content is the implementation of three solution groups by CEP and the Labour Federation of the provinces during the period 2023-2028: (1) Enhancing access to CEP products and services for workers; (2) Improving financial literacy to help workers avoid “Usury” and manage their personal finances effectively; (3) Supplementing capital to meet the loan needs of workers.