Street vendors in three small cities along the East-West Economic Corridor (EWEC) in Laos, Cambodia and Vietnam will have greater access to a micro-finance project worth US$2.5 million in non-refundable aid from the Japan Fund for Poverty Reduction.
This information was announced in Hanoi on May 22 by the Asian Development Bank (ADB), which is in charge of managing the aid and providing three other projects with a total of US$220 million to upgrade those localities.
Florian Steinberg, Senior Urban Development Specialist in the ADB Southeast Asia Department, said the project will focus on supporting female street vendors by providing them with small areas in the newly-built markets in the cities of Battambang in Cambodia, Kaysone Phomvihane in Laos and Dong Ha in Vietnam.
The local authorities will also develop child care services to ensure that their safety while their parents are earning their livings.
The cities were selected based on their agricultural production, trade and tourism near the border regions.
Research will be conducted to identify the most suitable products for the localities based on local demand, productivity and supply chains.
The project aims to provide small credit loans to about 600 needy vendors by 2017, as well as offering retail training and advice about their products.
ADB provides US$2.5 million for Mekong Delta cities
Street vendors in three small cities along the East-West Economic Corridor in Laos, Cambodia and Vietnam will have greater access to a micro-finance project worth US$2.5 million in non-refundable aid from the Japan Fund for Poverty Reduction.
Source: VOV
