Viet Nam has made remarkable progress in poverty reduction over the last 15 years by carrying out a broad range of policy reforms to foster sustainable and inclusive economic growth and strengthen social protection. Since 2002, an increasing number of multilateral and bilateral development agencies have supported these reforms through the World Bank led PRSC process. The PRSC process comprises several closely related activities jointly undertaken each year by participating development agencies to help the Government carry out policy reforms needed for the successful implementation of its poverty reduction strategy. The process involves the preparation of Viet Nam development reports by participating agencies, consultations on the policy matrices for PRSCs among participating agencies and between these agencies and the Government, and general budget support (in the form of grants and concessional loans) to Viet Nam by participating agencies to cover some of the costs of the policy reforms to the budget.
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