Int’l Fund Supports $28.6M Poverty Reduction Project in Central Vietnam

Vietnam’s central province of Quang Binh will carry out a poverty reduction project worth $28.6 million with support from the International Fund for Agricultural Development (IFAD). The project aims to increase incomes and reduce vulnerability of poor households in rural areas for the period of 2013-2017. It will invest in sustainable and environmentally-friendly rural development models that benefit the poor, develop value chains and market linkages, promote rural financial services and enhance the competitiveness of the local rural economy. The project will be carried out in 62 communes throughout the six districts of the province during the next five years. Started operations in Vietnam in 1993, IFAD has invested over $12.5 billion in grants and low-interest loans to developing countries, including Vietnam and empowering more than 370 million people to break out of poverty since 1978. (Nhan Dan – The People Mar 6)