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Updated : 9:20 AM, 05/26/2009
EC provides aid to reduce poverty in Vietnam
The European Commission (EC) on May 25 provided EUR44 million in non-refundable aid for Vietnam to implement its socio-economic development plans during the 2006 – 2010 period.

The Vietnamese Minister of Planning and Investment, Vo Hong Phuc, and the Director for Asia at the EC’s EuropeAid Cooperation Office, Dirk Meganck, signed a financial agreement from the European Poverty Reduction Support Programme (EPRSP) in Hanoi.

The non-refundable aid is part of the EC’s EUR304 million fund, which aims to support Vietnam from 2007 to 2013.

It is also part of the Poverty Reduction Strategy Papers 7, 8 and 9 (PRSP 7-8-9) that provide aid worth more than EUR700 million from sponsors in the EU and via the EU to the Vietnamese government.

The sum will be delivered to the State budget to support the government’s policy reform programmes that focus on reducing poverty and developing health and education.
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