Citi – Vietnam Microentrepreneurship Awards 2018 (CMA 2018) is an annual global activity, funded by Citi Foundation/ Citi Bank – Vietnam to recognize and honor the microentrepreneurs with initiatives in using loans effectively and and the typical microfinance institutions that have significantly contributed to the implementation of the Scheme on Building and Developing a Sustainable Microfinance System in Vietnam by 2020, contributing positively to the poverty reduction of the country.
The CMA program has been held annually since 2007 by Vietnam Microfinance Working Group Vietnam (VMFWG) in coordination with Citi Foundation/ Citi Bank – Vietnam, Vietnam Small and Medium Enterprises Association (VINASME), and with the support of State Bank of Vietnam. The CMA has recognized the contributions of 453 typical microentrepreneurs, 114 outstanding credit officer and 67 typical microfinance institutions in Vietnam. This year is the twelfth year the program is held in Vietnam.
- Raise awareness about the importance of microentrepreneurship and microfinance in supporting the financial inclusion and economic empowerment of low-income individuals;
- To honor outstanding Microfinance Organizations and Individuals, raise awareness and attract the attention of government, policy makers and relevant stakeholders to microfinance;
- To provide incentives for microentrepreneurs to improve their businesses, products, services, technologies, and accelerate income-generating activities.
- To highlight awardees who can serve as models of inspiration to other microentrepreneurs
- Raise awareness and participate in the implementation of the Scheme on building and developing a sustainable microfinance system in Vietnam by 2020 towards financial inlusion development in Vietnam; Contribute to the development of Vietnam’s banking system by 2025, with a vision towards 2030.
STRUCTURE AND VALUE OF CMA AWARD 2018
The CMA 2018 program awards 33 cash prizes, including:
Three prizes are awarded to the typical microfinance institutions, including:
(1) CMA 2018 Excellent Microfinance Organization – VND 40,000,000;
(2) CMA 2018 Typical Microfinance Organization operating effectively and sustainably – VND 30,000,000;
(3) CMA 2018 Typical Microfinance Organization committed to the implementation of social performance – VND 30,000,000;
30 awards will be given to microentrepreneurs, including:
(1) 01 award for CMA 2018 Excellent Microentrepreneur – VND 30,000,000;
(2) 01 award for CMA 2018 Outstanding Youth Microentrepreneur – VND 15,000,000;
(3) 01 award for CMA 2018 Innovative Business – VND 15,000,000;
(4) 01 award for CMA 2018 Green/Sustainable Business – VND 15,000,000;
26 awards for CMA 2018 Typical Microentrepreneur – VND 10,000,000 each
* The value of the prize includes taxes and fees in accordance with State regulations
– At least 5 CMA 2018 records for microfinance clients / organizations
– Send nomination letter of MFI (signed and sealed)
– Sign and commit to allow the use of images and information
– Send a copy of ID card
– Send photos / videos proving business performance
– Fill in the VMFWG 2018 data collection form
– Sign the VMFWG Code of Conduct (signed and sealed)