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Article: Vietnam : Vietnam Challenge Fund launched.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
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Byline: Mamta03
A new financing instrument providing grant co-funding to new business projects that will directly benefit the poor, called Vietnam Challenge Fund (VCF) was launched with the budget of US$3 million for 2009 2011 on November 10.
According to the Asian Development Bank (ADB), VCF is a major component of the "Making Markets Work Better for the Poor Phase 2 (M4P2)" initiative, supported by the Ministry of Planning and Investment (MPI), the Department for International Development (DFID) of the United Kingdom (UK) and the Asian Development Bank (ADB).
Challenge funds first originated in the UK, but have since been implemented by DFID ...