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PRESS RELEASE June 28, 2017

New World Bank Financing to Bolster Vietnam's Efforts to Spur Rural Development

Support to National Target Programs also aims to reduce poverty of ethnic minorities in 18 provinces

WASHINGTON, 28 June, 2017—The World Bank’s Board of Executive Directors approved today $153 million in concessional financing to support Vietnam’s National Target Programs (NTPs) for rural development and reducing poverty, which are central to the government’s strategy for raising rural incomes and productivity. The financing will support the NTPs’ efforts to improve rural infrastructure and expand work opportunities, while also building their capacity to plan and deliver services, particularly to ethnic minorities. 

“Vietnam’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 Vietnam. “The World Bank is committed to partnering with Vietnam 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 Program for Results operation will be implemented in 18 provinces that take part in the NTPs, with the view to developing and consolidating institutional reforms and more effective ways of doing business. 

The new financing is fully aligned with the new World Bank Group’s Country Partnership Framework for Vietnam, which supports, among other priorities, the development of rural enterprise and value chain investments for producers in the countryside, particularly ethnic minorities. 

The 18 targeted provinces that will benefit from this program includes 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, Trà Vinh. 




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