Vietnam National Assembly approves nearly 6bn USD in funding to aid development of ethnic minority groups

Illustrative image

The National Assembly has approved over 137.6 trillion VND (5.97 billion USD) in funding for the implementation of the first phase of the national target programme on socio-economic development in ethnic minority and mountainous areas from 2021-2030.

Under the recently-issued Resolution No 120/2020/QH14, the programme will be carried out in two phases, with the first being from 2021-2025 and the second from 2025-2030.

The first phase will receive more than 137.6 trillion VND in funding, including over 104.95 trillion VND from the State budget, 10.01 trillion VND from the local budget, and close to 19.73 trillion VND in policy credit.

Based on the results of the first phase, the NA will decide on the funding for the second phase.

The programme sets to narrow the income gap between ethnic minority groups and the national average, and strives to reduce the number of extremely poor ethnic villages and hamlets by 50 percent by 2025 and to bring the number to zero by 2030./.