Poverty Alleviation and diversification of income sources

Participation in the Fund, however, is raising clients out of extreme poverty; in 2003, more than 70% of our clients reported incomes above 80,000 per month. Moreover, by serving the poor and helping create economic opportunity, the Fund is contributing to the overall reduction of poverty in Thanh Hoa Province. In Nong Cong District, where the project began in 1998, the poverty rate has fallen 50% since 1990

Though agriculture remains the main economic activity in Thanh Hoa province, the Fund is helping its clients develop new and more stable sources of income. In 2003, only 41% of Fund clients listed agriculture as their primary source of income. Instead, they were earning money from small businesses, handicrafts, market trading, animal raising, and the production of food products, like noodles and rice wine. These businesses protect families from the seasonal and insecure nature of farming, and from the unpredictability of casual labor.

 

 

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