PM Okays PRSC 9 Negotiation Results

Prime Minister Nguyen Tan Dung signed the document to ratify the outcomes of negotiations for the 9th Poverty Reduction Support Credit (PRSC 9) Programme between the Vietnamese Government and the World Bank (WB).

 

The PM authorised the Governor of the State Bank of Vietnam (SBV) to sign the PRSC 9 Programme and other related documents with the WB. Following the signing, the Ministry of Justice was entrusted to provide necessary legal procedures for the programme to come into force.

 

The Prime Minister agreed to receive other non-refundable aid or preferential loans within the PRSC 9. At the same time, he authorised the SBV to sign non-refundable aid agreements within the PRSC 9 without referring to his ratification. The Ministry of Finance, in collaboration with relevant ministries and agencies, will map out effective plans to disburse the aid.

 

He also approved the initial steps of the negotiation process for the PRSC 10 Programme.

 

Accordingly, related ministries and agencies will continue preparing the upcoming PRSC 10 and particularly promulgating legal documents to start the PRSC 10.

 

The PRSC Programme was initiated in Vietnam in 2002 to support the Government of Vietnam’s implementation of the Comprehensive Poverty Reduction and Growth Strategy (CPRGS), in association with structural reforms in the three main pillars of economic development, society and State administration.

 

In the past, the PRSC Programme has not only financially supported poverty reduction in Vietnam but has also been a forum for international donors and communities to exchange and contribute ideas on socioeconomic development strategies of Vietnam and enhance transparency in spending provided funds.