Poverty Reduction Support Credit works for economic growth and poverty reduction

Standing Deputy PM Nguyễn Sinh Hùng was saying so at a meeting of the management board for the Poverty Reduction Support Credit (PRSC) program at the Government headquarters on Jan. 16.

The PRSC programs are designed to help the Vietnamese Government implement the Comprehensive Poverty Reduction and Growth Strategy (CPRGS), which is accompanied with structural reforms in socio-economic development and public administration. The programs have helped to increase independence in the design and implementation of Government programs and strengthen the partnership between Government and the donor community.

Between 2001 and 2006, Government has coordinated with the World Bank (WB) and donors developing and carrying out five PRSC programs, which have injected direct funding into the State budget for Government to manage and use in line with the works of State budget. The total sum disbursed by the Programs from No1-5 has reached US$ 1.1 billion. The number of co-donors involved in the same programs is reported to have increased.

Speaking at the meeting, Deputy PM Nguyễn Sinh Hùng appreciated the positive outcome of the PRSC programs that have given a boost to national development, especially economic growth and poverty reduction. He instructed that the board needs to develop specific action plans and work well with ministries and agencies for the coming PRSC programs.

By Quang Vinh