developpement international desjardins

Background of DID and STEP project Développement International Desjardins (DID) is a non-government-organization which belongs to Desjardins Group in Canada. It was established with a mission to support the cooperative credit model in the world in general and in Vietnam in particular. It has implemented several projects in Vietnam since 1993 to assist the People's Credit Fund network in its establishment and development. In 2015, DID in collaboration with the Cooperative Bank of Vietnam proposed a project to support strengthening the People's Credit Fund network in Vietnam to Global Affairs Canada (GAC). The project was approved for a five-year period. The project name is STrEngthening the People's Credit Funds network (STEP). STEP is jointly managed by the Cooperative Bank of Vietnam (Co-opBank) and Développement International Desjardins (DID), and funded by Global Affairs Canada (GAC). The project goal is to strengthen the capacity of Co-opBank and its network of financial cooperatives, the People's Credit Funds (PCFs). The overall mandate is to support and advise the Co-opBank and PCFs network in their process of transformation and modernization in order to increase their level of integration and performance. The Project has the following objectives: • Develop tools and competencies with Co-opBank enabling it to better support the People's Credit Funds (PCF) in their efforts to improve their competencies and raise their performance. • Enable the PCF to deliver a range of safe and sustainable products and services that meet the needs of the rural population. Cooperative Credit Model in Vietnam The People's Credit Fund in Vietnam was originated from a cooperative credit union, which was formed by farmers and small entrepreneurs. Its mission is to provide mutual benefits for its members by seeking capital for their enterprises and farming efforts in order to improve their livelihood, reduce poverty and eliminate famine. The Co-opBank, formerly Central Credit Fund, was established to serve as an apex institution for this the PCF system. Its mission is to assist the PCFs to contribute to implement the policy of the government for rural and agricultural development. The PCF system has a two-tier structure, first, the Co-op Bank and its branches acting as an apex institution, the second tier comprises of 1162 PCFs to date.