World Bank Financing to Bolster Vietnam's Efforts to Spur Rural Development
Van Anh
June 30, 2017 | 03:15 PM GMT+7
Vietnam’s National Target Programs (NTPs), which aims at reducing poverty of ethnic minorities in 18 provinces, has just been funded US$153 million from World Bank.
Communities in mountainous regions and rural areas remain vulnerable to poverty. Photo: Internet
On June 28, 2017, the World Bank’s Board of Executive Directors has approved US$153 million in concessional financing to support Vietnam’s National Target Programs (NTPs). This aims at rural development and reducing poverty, which are central to the government’s strategy for raising rural incomes and productivity. The financing will support the NTPs’ efforts in improving rural infrastructure, expanding work opportunities, and building their capacity to plan and deliver services, particularly to ethnic minorities.
World Bank has realised its two ambitious goals by funding numerous development programs in Vietnam, including NTPs. Photo: Worldbank.org
“Vietnam’s success in reducing poverty is remarkable. But communities in mountainous regions and rural areas remain vulnerable to poverty,” says Ousmane Dione, World Bank Country Director for Vietnam.“The World Bank is committed to cooperating with Vietnam in achieving more inclusive growth across the country, by targeting assistance at vulnerable groups and helping the agriculture sector to improve productivity and create more jobs.”
The Program for Results operation will be implemented in 18 provinces that take part in the NTPs, with the view to developing and consolidating institutional reforms and more effective ways of doing business.
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 enterprises and value chain investments for producers in the countryside, particularly ethnic minorities.
The 18 targeted provinces that will benefit from this program includes Cao Bang, Ha Giang, Lao Cai, Bac Kan, Dien Bien, Lai Chau, Ha Tinh, Quang Binh, Quang Trị, Thua Thien Hue, Quang Ngai, Ninh Thuan, Binh Thuan, Binh Dinh, Kon Tum, Dak Lak, Soc Trang, Tra Vinh.
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