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US$150 million for 9th Poverty Reduction programme

In Uncategorized on July 30, 2010 at 7:19 pm




US$150 million for 9th Poverty Reduction programme


QĐND – Friday, July 30, 2010, 20:55 (GMT+7)

The Governor of the State Bank of Vietnam (SBV), Nguyen Van Giau, and the World Bank (WB)’s Acting Country Director, Alain Barbu, signed an agreement and deals concerning the 9th Poverty Reduction Support Credit programme (PRSC 9) for Vietnam, worth US$150 million, in Hanoi on July 29.


This credit level shows the WB’s commitment to continuing to assist Vietnam’s economic development and campaign to reduce poverty.


The PRSC 9 officially started in November, 2009 and is the fourth programme in the five-year plan (PRSC 6-10) to support Vietnam carrying out its Socio-Economic Development Plan (SEDP) for the 2006-2010 period.  


The programme focuses on business development, social integration, the management of natural resources and instituting a modern national administration.


The amount of credit for the PRSC 9 has been provided with a loan term of 35 years. So far, the total amount of credit the WB has authorised Vietnam through the PRSC has reached US$1.475 billion.


As scheduled, nine bilateral and multilateral sponsors will take part in the PRSC 9 programme in form of preferential loans or non-refundable assistance.


This support will be incorporated in the state budget and used to realise national targets, including alleviating hunger, reducing poverty and promoting economic growth.


Source: VOV


Source: QDND

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