Rural finance project creates over 50,000 jobs

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Hanoi Times English - 39 month(s) ago 1 readings

The Hanoitimes - Over 50,000 new jobs have been created under the World Bank-funded Rural Finance Project III (RFP), according to a mid-term project review published.

The Hanoitimes - Over 50,000 new jobs have been created under the World Bank-funded Rural Finance Project III (RFP), according to a mid-term project review published.

Following the success of Rural Finance Projects I and II, the World Bank continued to provide a US$200 million loan for the Rural Finance Project III, which was launched in 2009.

The loan aims to provide private businesses and households in rural areas with access to financial resources to boost agricultural and rural development.

The report, compiled by consulting firm Mekong Economics Ltd, showed that in the past two years RFP III loans have helped rural households raise their living standards and improve the performance of private businesses.

So far US$185 million has been disbursed and 50,450 jobs generated, exceeding all the targets set in 2009 when the project was launched.

The Rural Finance Project III will run until 2013.

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