I was reading a news article from the World Bank about its Poverty Reduction scheme in Vietnam. Interestingly, this particular Poverty Monitoring and Policy Intervention has helped people live above the poverty line. Statistics show that almost a reduction in poverty was due to the government's changing policy interventions that address the poverty issues (almost 58% 1992 to 14.5% 2008)[1].
What is remarkable is that Vietnam has been developing its policies over time to tackle the poverty issues and efficiently allocating its resources in the economy. The positives of the World Bank and Vietnamese Government shows that there is a great awareness of poverty in the country and that to lower the poverty line, time is taken place to help those, educate and send support. Thus I think that through this sort of initiative and developing awareness can be replicated to other countries who also suffers extreme poverty. However due to the post Global Financial Crisis from 2008, I always wonder whether the World Bank has sufficient funds to help develop and invest in new policies or programs to help other countries that may suffer extreme poverty. How else would funding be implemented if first world economies and Governments are also suffering from the widespread crisis could not afford to give as much funding as they can a decade ago. Will our world that lives below $1 a day even suffer due to this financial crisis?.
From the World Bank News and Articles http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:23172942~menuPK:141311~pagePK:34370~piPK:34424~theSitePK:4607,00.html
References:
[1] The World Bank, 'Vietnam: Building Capacity for Poverty Monitoring and Policy Intervention for Poverty Reduction', 2013, accessed 20 December, 2013, <http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:23172942~menuPK:141311~pagePK:34370~piPK:34424~theSitePK:4607,00.html..
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