IFAD-sponsored project targets sustainable rural development

VGP – The Government has proposed the State President approve the Project on Sustainable Rural Development for the Poor in Ha Tinh and Quang Binh provinces, which is funded by the International Fund for Agricultural Development (IFAD).

February 20, 2014 3:06 PM GMT+7

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Under the authorization of the PM, Vietnamese Ambassador to Italy Nguyen Hoang Long and IFAD President Kanayo F.Nwanze signed a financing agreement for the project in Rome on November 27, 2013.

The project aims to improve the sustainable income and reduce the harms for poor households, especially poor eomen, in rural areas in the central provinces of Ha Tinh and Quang Binh.

Rural development models will be invested from which they will help with increasing market connection and business competiveness in the targeted areas.

The IFAD will provide a US$22.5 million loan for Viet Nam while the Spanish Food Security Co-financing Facility comes up with other US$10 million, for a period of 40 years, including a 10-year grace duration.

By Thuy Dung