19:22 (GMT +7) - Thursday 21/09/2017

Vietnam Today

WB to bolster efforts to spur rural development

Released at: 16:08, 29/06/2017

WB to bolster efforts to spur rural development

Photo: laocai.gov.vn

$153 million in concessional financing to support Vietnam's National Target Programs for rural development and poverty reduction.

by Doanh Doanh

The World Bank’s Board of Executive Directors has approved $153 million in concessional financing to support Vietnam’s National Target Programs (NTPs) for rural development and poverty reduction, which are central to the government’s strategy for raising rural incomes and productivity.

The 18 targeted provinces that will benefit from the program are Cao Bang, Ha Giang, Lao Cai, Bac Kan, Dien Bien, Lai Chau, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue, Quang Ngai, Ninh Thuan, Binh Thuan, Binh Dinh, Kon Tum, Dac Lac, Soc Trang and Tra Vinh.

The financing will support the NTPs’ efforts to improve rural infrastructure and expand work opportunities, while also building their capacity to plan and deliver services, particularly to ethnic minorities. 

“Vietnam’s success in reducing poverty is remarkable. But communities in mountainous regions and rural areas remain vulnerable to poverty,” said Mr. Ousmane Dione, World Bank Country Director for Vietnam. “The World Bank is committed to partnering with Vietnam in achieving more inclusive growth across the country, by targeting assistance for vulnerable groups and helping the agriculture sector to improve productivity and create more jobs.” 

The new financing is fully aligned with the new World Bank Group’s Country Partnership Framework for Vietnam, which supports, among other priorities, the development of rural enterprise and value chain investments for producers in the countryside, particularly ethnic minorities. 

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