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World Bank loan to support poverty reduction in China's Guangxi

2018-06-26 10:58

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The World Bank has approved a loan of 400 million U.S. dollars to help poverty reduction in southwest China's Guangxi Zhuang Autonomous Region.

The bank gave the nod to the first Program-for-Results (PforR) poverty reduction operation in rural China that links loans with results. In 28 counties, the program will improve incomes, infrastructure and institutions.

About 1.7 million rural poor people will benefit from climate-smart farming practices and technology.

Guangxi still has more than 2 million rural poor, about a million fewer than in 2016, according to the National Bureau of Statistics.

"The new PforR operation will enhance institutional innovations for poverty reduction through connecting planned activities more closely to poor households and villages," said World Bank economist Paavo Eliste.

"The lessons learned through the program can be used in similar complex rural settings and help other countries eradicate extreme poverty by 2030," said the economist.

China was the first country to achieve the Millennium Development Goal of halving the number of people living in poverty.

The program will support government's own poverty reduction programs and inspire other countries to do the same, said another bank economist Samuel Freije-Rodriguez.
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