Vietnam Launches $2.4M Proj Funded by Canada, UNDP to Aid Social Impact Bizs

On November 22, the Ministry of Planning and Investment (MPI) and the United Nations Development Program (UNDP) launched the project: “leveraging Vietnam’s Social Impact Business Ecosystem in Response to COVID-19”- ISEE-COVID project, with a total budget of CAD3.1 million ($2.4 million), state media reported. The project is mostly funded by Global Affairs Canada (GAC). The remaining funding will come in the form of reciprocal capital allocated by the UNDP and the Vietnamese government. The project will prioritize support for social impact businesses (SIBs) in four sectors, namely sustainable agriculture, sustainable tourism, education, and health. It is expected to help 300 SIBs approach initial capital and market, thus creating 9,000 jobs for vulnerable people. Besides, 90 SIBs will benefit from revenue growth and plan building in response to COVID-19 and future shocks while 105 others will plan business in line with gender affairs, environment, and climate change adaptation. Also, the ISEE-COVID project will help devise or amend at least four gender-responsive policies and form a SIB network with no less than 100 members. (Dang Cong San, Bao Dau Thau)