[Vietnam] PM asks fund to focus lending on poverty reduction projects

from Nhan Dan

Prime Minister Phan Van Khai on February 18 urged the Development Assistance Fund (DAF) to focus its lending on the State's key projects and poverty reduction projects that benefit remote and ethnic minority-inhabited areas.

While working with the DAF in Hanoi, PM Khai also asked it to ensure that its lending activities are carried out legally, effectively and thriftily.

In addition, the PM praised the DAF's achievements over recent years, describing it as an important loan-provision channel, which has helped boost the country's economic growth and industrialisation and modernisation process.

After six years of operation, the DAF had provided more than 6,600 projects with VND 179 trillion worth of committed loans, nearly VND 125 trillion of which had been disbursed, the Government leader said.

The DAF is assigned to provide loans worth VND 31 trillion for development projects this year. To do so, it is required to raise approximately VND 29.7 trillion and collected debts valued at VND 6.5 trillion this year.

The DAF, which began official operations on January 1, 2000, specialises in mobilising capital and receiving and managing the State's capital resources to realise its development investment credit policy through the provision of loans, credit underwriting services, bank-loan interest support and export-support credit. (VNA)