Vietnam Hanoi to Mobilize VND50B for Poor People Next Year

The Fund for the Poor in Vietnam’s capital city of Hanoi targets to mobilize VND50 billion ($2.56 million) from organizations and individuals to support the poor in 2011, said Dang Viet Quan, chairman of the Hanoi Fatherland Front. Social organizations and individuals in the city have granted more than VND33 billion to the fund this year, accounting for 110% of its full-year target. Quan, however, added that Hanoi is estimated to need VND100 trillion yearly to cut the poverty rate by 1.4%-1.8% a year. Under the new poverty standard, Hanoi is forecast to have 114,636 poor families this year, accounting for 9.6% of its total population, compared to 4.48% currently. The capital city will spend VND5 trillion from the municipal budget to help the poor and near-poor people from now up to 2015 with the aim to cut the poverty rate to 2% by 2015. (cpv.org.vn Dec 29)