Poverty reduction program requires VND42.8 trillion

Statistics from the Ministry of Labour, War-Invalids and Social Affairs (MOLISA) announced during the meeting of the National Steering Committee on Sustainable Poverty Reduction held on June 3^rd, show that the country needs VND42.8 trillion for poverty reduction in the next five years.

Photo for illustration

The capital is expected to be spent in perse projects, including the building of infrastructure for poor districts and extremely disadvantaged communes, support for production for raising income, persifying livelihood earnings and expanding poverty reduction models; supporting for poor labourers and those in ethnic minority families for going abroad to work.

According to Deputy Prime Minister, Vu Van Ninh, the Ministries of Finance, and Planning and Investment must give priority to allocate capital for the areas that report a high rate of poverty. He stressed that ministries, agencies and localities should pay attention to increase resources for production. “Only investment in sustainable production helps sustainable poverty reduction, resulting in other social efficiencies,” he said.

In addition, the Deputy Prime Minister directed the increase of loans for poor and nearly-poor families and those who have recently escaped poverty.

Earlier, the Government decided to lower the lending interest rate for poor families to 6.6% per year from 7.2%.

The poverty reduction program in the 2016-2020 period targets the acceleration of poverty reduction, making condition for poor families to have best access to medical, educational, housing, water and hygienic services, contributing to reducing the average poverty rate by 1-1.5% per year./.

( Compiled by VNF )