The Project Completion Ceremony for the Strengthening People’s Credit Fund Network (STEP) was held on November 19, 2024, hosted by the Co-operative Bank of Vietnam (Co-opBank). Distinguished guests attended the ceremony, including His Excellency Shawn Steil, Ambassador of Canada to Vietnam; Mr. Dao Minh Tu, Deputy Governor of the State Bank of Vietnam; and Mrs. Pham Thi Hong Minh, Chief Executive Officer of Co-opBank. The event drew approximately 200 participants, including senior management and officials from Co-opBank’s Head Office and its 12 regional branches, representatives from pilot People’s Credit Funds (PCFs), and key stakeholders from the financial sector.
In recognition of their outstanding contributions to the project’s success, awards were presented to 14 distinguished units, comprising departments from the Co-opBank and participating PCFs. This commendation acknowledges their instrumental role in achieving the project’s objectives and ensuring its successful implementation.
H.E Shawn Steil commended the project’s achievements in two key areas: enhancing Co-opBank’s capabilities as an APEX institution to better support the PCFs network and strengthening PCFs’ capacity to deliver sustainable financial services tailored to rural communities, particularly women. The project’s pilot phase, implemented across 75 PCFs nationwide, has successfully benefited over 10,000 households through innovative financial products and services.
During the ceremony, Mr. Đào Minh Tú, Deputy Governor of the State Bank of Vietnam, highlighted that STEP serves as a prime example of the robust bilateral collaboration between Canada and Vietnam in advancing financial inclusion, community development and women empowerment. He expressed profound gratitude for the Government of 
Canada’s 30 years of unwavering support to 
Vietnam, particularly in strengthening the Co-opBank and the PCFs network. Looking toward the future, Mr. Tu conveyed his aspiration for continued Canadian support to further deepen this important partnership. He highlighted STEP’s significant contribution to the implementation of the Vietnamese Government’s directive to enhance the collective economic model, with a particular focus on cooperative credit financial institutions, which play a critical role in rural development.
Canada’s 30 years of unwavering support to Vietnam, particularly in strengthening the Co-opBank and the PCFs network. Looking toward the future, Mr. Tu conveyed his aspiration for continued Canadian support to further deepen this important partnership. He highlighted STEP’s significant contribution to the implementation of the Vietnamese Government’s directive to enhance the collective economic model, with a particular focus on cooperative credit financial institutions, which play a critical role in rural development.[/vc_column_text]
