CSR News Title Citi Honors Vietnam's Outstanding Microentreprenuers Detailed Content Hanoi – The Citi Microentrepreneurship Awards 2009 took place at the Center for Women and Development on December 18. This is the third year in a row that the Citi Microentrepreneurship Awards have been held in Vietnam. This year's initiative attracted the participation of 50 organizations nationwide. The Citi Microentrepreneurship Awards presentation ceremony honored 50 microentrepreneurs, 15 credit officers and five microfinance institutions that have attained excellent achievements in the fight against poverty and become role models for the community and society to follow. The Citi Microentrepreneurship Awards have become a meaningful annual activity conducted by the Vietnam Microfinance Working Group (the group hosting the awards) with funding from the Citi Foundation, and with the support of the State Bank of Vietnam. This year, the number of applications from organizations and individuals increased considerably. In total, 305 officers and microentrepreneurs from many provinces across the country submitted applications. These figures show the growth, scale, importance and significance of the awards for poor people in Vietnam. Mrs. Duong Thi Ngoc Linh, Chairwoman of Vietnam Microfinance Working Group, spoke on behalf of the Group, "The Vietnam Microfinance Working Group is very delighted by the attention that the Government has been paying to the microfinance industry in Vietnam. "After the promulgation of Decree 28 and Decree 165 regarding the organization and operation of Microfinance Institutions in Vietnam, on September 16, 2009 the Government decided to set up the Government's Microfinance Committee with the participation of many Ministries, Branches and mass organizations. It is the source of encouragement for Microfinance Organizations in Vietnam in the process of integration and development. This year is the third year in a row that the Vietnam Microfinance Working Group has had the honor of hosting the awards in Vietnam." She added, "We are very glad to receive the care and active support from organizations as well as the precious assistance from the State Bank of Vietnam. After three years, the Awards have grown more and more in terms of both scale and quality. This is reflected by the number of organizations and individuals applying for the awards. "With more than 300 dossiers from almost 50 organizations across the country and the active participation of mass media agencies in the process of preparation, deployment and organization of the awards ceremony, the general awareness of Microfinance operation in Vietnam has obviously changed and these awards have contributed considerably to these changes." Mr. Tran Minh Tuan, Standing Deputy Governor of the State Bank of Vietnam, a member of the Government's Microfinance Committee, in his speech at the Awards Ceremony, recognized the active contribution of Microfinance organizations in Vietnam to the task of hunger eradication, poverty alleviation and country development and emphasized: "The State Bank of Vietnam welcomes and highly appreciates the efforts of the Vietnam Microfinance Working Group in the organization of the Awards and hopes that the Citi Foundation and other organizations pay attention and provide support so that these Awards will still be held in Vietnam in the coming years in order to recognize and encourage microfinance organizations and their members to contribute more and more to the task of economic development." Mr. Brett Krause, Citi Country Officer for Vietnam said, "In Vietnam and worldwide, microfinance has contributed significantly to the national economy. I am really moved when I witness that poor women as members of microfinance programs/organizations, with their initiative and hard work, have used small loans effectively to make progress out of poverty. "They are excellent role models for people in community to follow and have contributed to the general development of their communities. I have been to many Date of News 12/21/2009 12:00:00 AM Company Name Citigroup Issue Type Award Issue By corporates Country United States