Prime Minister Nguyen Tan Dung has approved allocating VND4 trillion ($223 million) for three policy banks to raise their registered capital, the Sai Gon Giai Phong newspaper reported Monday. Of the funding, VND1.012 trillion will be funneled into the Vietnam Bank for Social Policy, VND2 trillion will go to the Vietnam Development Bank and VND1 trillion will go to the Central People’s Credit Fund. The funding is part of a total of VND10.026 trillion ($560.8 million) the government has allocated for its 8th Poverty Reduction Support Credit (PRSC-8) program with aims to reduce poverty.
