The Vietnamese Ministry of Planning and Investment coordinated with the World Bank (WB) to launch the second phase of the Northern Mountains Poverty Reduction Project in Hanoi on Sept 9, Deputy Minister Cao Viet Sinh said. Of the $165-million sum, $150 million is from the WB and the rest from the Vietnam’s reciprocal capital, the state-run Vietnam News Agency cited Sinh as saying Sept 9. The project’s second phase will benefit locals in 230 communes in 27 districts in the six provinces of Lao Cai, Yen Bai, Son La, Hoa Binh, Lai Chau and Dien Bien between 2010 and 2015. The deputy minister added that these localities have the highest rate of poor households, including Dien Bien with 30%, Ha Giang 26% and Son La 25%. The project will not only help reduce poverty for locals but also teach them how to do business in order for better life, Sinh emphasized.
WB Director in Vietnam Victoria Kwakwa appreciated Vietnam’s efforts in poverty reduction and pledged to continue supporting Vietnam on the issue. The global bank has to date financed a combined of $1.47 billion for Vietnam’s nine programs of Poverty Reduction Support Credit (PRSC). The PRSC, conducted by the WB in developing countries that have stable macro economy and rational finance management system, was inaugurated in Vietnam in 2002. Vietnam aims to reduce the number of poor families to less than 9.5% this year from 11% in 2009. (vietnamplus.vn Sept 9, vovnews.vn Sept 9)
