World Bank Supports Vietnam to Improve Livelihood for the Poor

The State Bank of Vietnam and the World Bank recently signed a US$55 million credit to improve the quality of life for the poor by providing affordable technological solutions in traditional herbal medicine, information/communication technology applications and agriculture/aquaculture technologies.

 

The credit, which funds the Inclusive Innovation Project, aims to strengthen Vietnam’s capacity to undertake inclusive innovation, including financing development, adaptation, adoption, scale-up and commercialisation of inclusive technologies; and improve research and development institutions’ and small and medium enterprises’ technological and innovation capabilities. It will also strengthen capacity in program development, policy coordination, program implementation, monitoring and evaluation for related policy making agencies.

 

The project will be conducted in partnership with the Enterprise Development Agency of the Ministry of Planning and Investment as the primary executing agency, and with selected participating financial intermediaries and the National Foundation for Science and Technology Development (NAFOSTED) as the implementing agencies.