More businesses to benefit from Thriive project

More small-sized businesses will have the chance to access capital and consultancy to expand operations as the Thriive Hanoi project enters its 13th year in Vietnam.

Thriive Hanoi is a cooperative program between Thriive US and the Centre for Economic Development Studies of the School of Economics and Business of Vietnam National University, Hanoi.

The project offers interest-free loans to Vietnamese small enterprises to invest in machinery and technologies, expand production and sales, and improve social responsibility.

Participating businesses are given development advice and opportunities to link with other business support programs sponsored by domestic and foreign investors.

Vu Thai Thinh, a coordinator of the 2018 Thriive Hanoi project, told VOV at a seminar to introduce the project on Sunday: Since it began operations in Vietnam in 2005, Thriive has financed 150 enterprises. Each company is allowed to borrow between 2,200 USD and 9,700 USD interest-free. The company repays the loan, not in cash, but by providing free vocational training, products, or services to poor, disadvantaged people or people with disabilities. In 13 years more than 120,000 people have benefited from the project.

Thriive, a US-based non-profit charity organization, was established to reduce poverty toward sustainable growth in developing countries. The Thriive project has also been implemented in Palestine, Kenya, Nicaragua, and Guatemala.

Source: VOV5