WB Continues to Support Programme 135

The managing director of the World Bank (WB) has recently approved a development credit, valued at US$50 million to support the socio-economic development of 1,644 poorest communes and 2,500 poorest villages in Vietnam. The Vietnamese Government is now striving to reduce the poverty gap via the second phase of Programme 135 with a total investment capital of US$1 billion in the 2006-2010 period.

 

The credit, sourced from the International Development Association, under the WB, is provided for the poorest countries in the world. The programme receives donation from Australia, Finland, Ireland, Sweden, the UK and Agriculture Development Fund. IDA and donors will provide a third of total cost for P135-2, via direct budgetary assistance for the Government. However, the component of policy and institution improvement will be applied for the whole programme.