AFD gives € 30 mil. for private economic sector
VGP - The French Development Agency (AFD) today signed with Việt Nam’s Ministry of Finance (MOF) the Agreement on opening a credit line worth of € 30 million for the project “Supporting private sector for People’s Credit Fund.”
The
signing ceremony of the Agreement on opening a €30-million
credit line of the French Development Agency (AFD) for
the project “Supporting private sector for People’s Credit Fund,” Hà Nội,
November 18, 2009 – Photo: VGP
The credit then
will be allocated for individuals, households and private businesses trading in
rural areas with the aim of encouraging them to invest in production and develop
agricultural economy.
Apart from
the credit, AFD also provide a non-refundable aid of €0.5
million for VAPCF and local People’s Credit Funds in order to strengthen
financial management, administrative management and supervision at
international standards so that the credit will be used safely and effectively.