The State Bank of Vietnam (SBV) and the World Bank (WB) on September 6 signed a credit agreement worth over 55 million USD to help people on low incomes improve their standard of living.
The credit will be used for a WB innovations project on developing and supplying high-tech products at low prices in traditional medicine, information technology and communication, agriculture and aquiculture for the sake of the poor.
The initiative will help realise the dual targets of enhancing productivity through effective technological usage and continuous poverty reduction, said WB Country Director in Vietnam Victoria Kwakwa.
It also means to help policymaking agencies enhance their proficiency in supervising, implementing and evaluating policies.
The project, which is financially supported by the International Development Association (IDA), a WB organisation, is carried out nationwide in 2013-2018 by the Department of Business Development under the Ministry of Planning and Investment.