Over VND56 trillion to be allocated for poverty reduction

Over VND56 trillion (US$2.6 billion) is expected to be allocated from the State budget for the national target programme on sustainable poverty reduction in the 2016-2020 period, according to the Ministry of Labour, War Invalids and Social Affairs (MOLISA).

Illustration photo. Photo: Huu Chi

The information was released by the MOLISA at a meeting of the National Steering Committee on Sustainable Poverty Reduction held in Hanoi on June 3 under the chairmanship of Deputy Prime Minister Vu Van Ninh, who is also the Committee’s head.

The ministry said that the country’s poor household rate is expected to be under 5% by the end of the year. However, the rate in remote regions, border areas, islands and among ethnic minority groups is still high with dangers of falling back into poverty.

As a result, the target of the poverty reduction programme will be on speeding up the poverty reduction rate and facilitating disadvantaged people and households to access fundamental social services, contributing to reducing the average number of poor households nationwide by 1-1.5% per year and that in disadvantaged districts and communes by 4% per year.

Commenting on the programme, Deputy PM Ninh asked ministries and agencies to specify projects serving poverty reduction work.

He urged the Ministry of Finance (MOF) to allocate a maximum budget for the programme with priority on poverty reduction in regions with high poverty rates while investment demand for poverty reduction in localities should be defined.

The government official also reminded the MOF and the Ministry of Planning and Investment to increase lending capital and expand targeted borrowers among disadvantaged households to prevent those who have escaped from poverty from falling back into poverty.

In addition, PM Ninh reminded the ministries of new poverty standards to count the number of poor households and devise plans for infrastructure investment, particularly investment in production, in disadvantaged regions.

(Source: VGP - Translated by NDO)