IFAD representative speaking at the event. (Photo: CPV)
These projects have directly benefited more than 748,470 rural households in 11 provinces nationwide.
These results were revealed in a ceremony held on May 22
nd, in Hanoi to celebrate the 25
th anniversary of partnership between IFAD and Vietnam.
Mr. Donal Brown, Associate Vice-President of IFAD said Vietnam has made impressive leaps in transforming its economy in a very short time span, growing from USD230 of GDP per capita in 1985 to USD2,340 in 2017. This growth has also been generally inclusive, with poverty decreasing from 60% of the total population in the mid-eighties to less than 10% in 2016.
He also highlighted that IFAD has worked side-by-side with the Governments of Vietnam and development partners to support and contribute to the country’s poverty eradication efforts.
In Vietnam’s rural areas, home to over 70% of the population, poverty eradication efforts need to be strengthened. IFAD’s current strategy and portfolio aim at developing pro-poor market-led innovations, deepening institutional and policy reform at the provincial level, building capacity among poor farm households and adapting to the effects of climate change.
Nowadays, Vietnam has become a hub for foreign investment and manufacturing in Southeast Asia. However, Vietnam is still a predominantly rural population with a vibrant agricultural sector where small holders represent the large majority, contribute to sustained growth, and provide much of rural employment and raw materials for its agro-business.
IFAD is fully committed to continue its partnership with Vietnam in the coming years in support of the country's quest to reduce poverty in all its dimensions and to fulfill the United Nations' 2030 Sustainable Development Goals, in particular goal 1: No Poverty.
IFAD is an international financial institution and a specialized United Nations agency based in Rome - the UN’s food and agriculture hub. The organization invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience./.