Prosper expands on Experian’s current financial education program in Vietnam with iCare Benefits (iCB), aiming to empower and reduce the vulnerabilities of 2.7 million female factory workers to pernicious credit practices and informal lending, and prevent defaults while raising their ability to access to essential household services from iCB. In the current pilot stage Pact is designing and delivering financial education modules to 1,500 female factory workers, with a focus on personal and household financial management. The materials developed from the pilot will be designed for replicability and scalability while accommodating the local context. Pact uses a three-pronged approach based upon best practices for informal adult learning, including opportunities for participants to practice and apply the module’s principles, to build financial literacy and provide financial-management practice opportunities.
Livelihood Extension Services
In Tinh Gia, Thanh Hoa, Vietnam, Pact is supporting the restoration of livelihoods for 2,000 families affected by the establishment of the Nghi Son Economic Zone. Through a case management approach, Pact works with families to assess their needs and support them to develop their own household development plans, and refer family members to other strategic social investment projects (SSI) for livelihood opportunities as appropriate to promote livelihood restoration. Using social behavior change communication, Pact assists affected people to address barriers, leverage opportunities and take ownership of their livelihood’s restoration.
Mekong Vitality Expanded Alliance
Mekong Vitality Expanded Alliance builds on Pact's Mekong Vitality project, which has been helping economically disadvantaged women in Vietnam's Vinh Long province since 2013. Mekong Vitality uses WORTH, Pact’s award-winning women’s economic empowerment model in which groups of 20-25 women form a village bank (WORTH groups) for weekly savings and loans, allowing them to develop small businesses. MVE goes a step further by incorporating mobile technology solutions, deeper business skills training and additional networking opportunities into the WORTH groups. The Alliance focuses on transforming women from micro-enterprise operators to entrepreneurs and business leaders by equipping them with an understanding of sound business practices and market forces, including trade opportunities.