Vietnam prepared for poverty credit programme

Hanoi (VNA) - A senior banking official has pledged to fully prepare for the implementation of the Poverty Reduction Support Credit 8 through high-quality content and suitable action plans.

Vice-Governor of the State Bank of Vietnam Nguyen Van Binh, who is also the
deputy head of the Steering Board for the Poverty Reduction Support Credits
(PRSCs), made this affirmation at a meeting to launch the PRSC8 in Hanoi
on Nov. 24.

The meeting, hosted by the State Bank of Vietnam , brought together World
Bank representatives and PRSC donors.

"PRSC provides timely assistance to Vietnam in the wake of the global
economic turmoil and during a time when it is facing numerous difficulties,"
Binh said.

As part of a cycle implementing Vietnam 's Socio-Economic Development Plan
(SEDP) for the 2006-2010 period, the PRSC8 is designed to provide continued
support to reform in Vietnam .

The PRSC8 will be carried out across a broad spectrum, including global
integration, the reform of State-owned sectors and financial areas, and the
development of the private sector, education, health care and social welfare
systems.

PRSC is a tool for both the WB and donors to estimate the level of
assistance to give to nations that demonstrate economic success and progress
in poverty reduction.

Binh described the credit as an important source of assistance to ensure the
provision of long-term resources and the international community's
assistance to Vietnam 's reform programme.

"The Vietnamese government will, in any circumstances, pay due attention to
reducing poverty and ensuring social welfare," he stressed.

WB's Acting National Director Martin Rama announced both his organisation's
and other donors' commitments to the implementation of PRSC8.

Concerned parties discussed a coordination plan, as well as methods to
ensure technical discussions in servicing the building and execution of
PRSC8.-Enditem