WB Approves US$100 Mln in Additional Financing for Poverty Reduction in Six Vietnamese Provinces
The World Bank’s Board of Executive Directors recently approved US$100 million in additional financing for an ongoing project to help improve living standards for poor people in six provinces in Vietnam’s Northwest, the nation’s poorest region.
The increased financing bolsters poverty reduction efforts by the Vietnamese government in the provinces of Hoa Binh, Son La, Dien Bien, Lai Chau, Lao Cai and Yen Bai.
In particular, the project focuses on expanding support for poverty reduction efforts in the six provinces where it started, as well as additional districts and communes. It also seeks to improve local development planning and help make a participatory approach part of the government’s national poverty reduction programs, with a focus on strengthening partnerships between farmer groups and agro-businesses.
The government of Vietnam is providing US$10 million in financing in addition to the US$100 million from the International Development Association (IDA), the World Bank Group’s concessional lending arm.
L.A
Vietnamese
