Thursday, August 17 2017

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New WB financing to bolster Việt Nam’s efforts to spur rural development

Update: June, 29/2017 - 17:16
Raising rabbits of New Zealand variety helps a farmer in Hà Tĩnh Province earn some VNĐ1 billion (US$47,000) a year. Việt Nam’s success in reducing poverty is remarkable, a World Bank official said. — VNA/VNS Photo Vũ Sinh
Viet Nam News

WASHINGTON — The World Bank’s Board of Executive Directors approved on Thursday US$153 million in concessional financing to support Việt Nam’s National Target Programmes (NTPs) for rural development and reducing poverty, which are central to the government’s strategy to raise rural incomes and productivity.

The financing will support the NTP’s efforts to improve rural infrastructure and expand work opportunities, while also building capacity to plan and deliver services, particularly to ethnic minorities, according to a press release published on Thursday.

“Việt Nam’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 Việt Nam. 

“The World Bank is committed to partnering with Việt Nam in achieving more inclusive growth across the country, by targeting assistance for vulnerable groups and helping the agriculture sector to improve productivity and create more jobs.” 

The operation will be implemented in 18 provinces that take part in the NTPs, with a view to developing and consolidating institutional reforms and more effective ways of doing business. 

The new financing is aligned with the new World Bank Group’s Country Partnership Framework for Việt Nam, which supports the development of rural enterprise and value chain investments for producers in the countryside. 

The 18 targeted provinces that will benefit from this programme include Cao Bằng, Hà Giang, Lào Cai, Bắc Kạn, Điện Biên, Lai Châu, Hà Tĩnh, Quảng Bình, Quảng Trị, Thừa Thiên-Huế, Quảng Ngãi, Ninh Thuận, Bình Thuận, Bình Định, Kon Tum, Đắc Lắc, Sóc Trăng, and Trà Vinh. — VNS

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