(KPL) Lao government will spend US$50 million to address poverty in 43 districts across the country through 2019 to graduate the country from Least-Developed Status by 2020 and to become an upper-middle income country by 2030.
The funding, which represents contributions from the government, the World Bank and development partners, will be used to implement the third phase of the Poverty Reduction Fund (PRF) programme. The implementation of the third phase will be similar to PRF Phase II, according to Mr Lien.
The meeting of the Executive Board of PRF was held in Vientiane Capital on January 31 to review its implementation work over the last five years and to outlay the third phase of the PRF programme.
The meeting was chaired by Minister of Agriculture and Forestry Mr Lien Thikeo, who is also the President of the Executive Board of the Poverty Reduction Fund, and was attended by representatives from the government and international organizations.
Over the last five years, the Poverty Reduction Programme has supported over 1,900 sub-projects on education, health, roads, and agriculture and forestry, benefitting over 700,000 people in rural areas from project activities each year.
The Poverty Reduction Programme Phase II spent over US$80 million, of which the government contributed US$10 million, the World Bank US$25 million, Switzerland US$13 million, Australia US$17 million, as well as contributions from other development partners, Mr Lien said.
The Poverty Reduction Fund (PRF) was established in 2002 under the guidance of the Government of Lao P.D.R. The PRF exists to build local capacity and to be a model for a community-driven development approach.