The World Bank (WB) has approved a US$50 million interest-free credit to help Vietnam reduce poverty among its ethnic minorities and communities in remote and mountainous areas.
The bank said in a press release on March 22 that the credit will be used to support the second phase of the Vietnamese Government’s Programme 135 (P135-2), aimed at boosting socio-economic development in 1,644 of the country’s poorest communes and 2,500 poorest villages.
The Programme is co-financed by Australia , Finland , Ireland , Sweden , the UK , and the International Fund for Agricultural Development (IFAD). These financiers will provide less than a third of the total cost of P135-2 as part of support for the Vietnamese Government.
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