The International Fund for Agricultural Development (IFAD) will provide a loan of $22.5 million and a grant of $500,000 to help Vietnam implement a project on sustainable rural development for the poor. The $45.6 million project was launched at a January 15-16 conference in Dong Hoi city, the central province of Quang Binh, aimed at raising incomes and reducing the vulnerability of poor households in Quang Binh and Ha Tinh provinces. It will focus on rural development models that may see most benefit, ensure social equity, promote climate change adaptation and improve competitive edge in rural business. A financial support agreement was signed by representatives of the Vietnamese Government and IFAD on November 27 last year in Rome, Italy, where the fund headquarters is based. Accordingly, the five-year project will be implemented in 40 communes in Quang Binh’s six districts and 50 communes in 10 districts of the neighboring province of Ha Tinh, especially targeting poor households, women and ethnic groups. IFAD works with poor rural people to enable them to grow and sell more food, increase their incomes and determine the direction of their own lives. Since 1978, the fund has invested over $15 billion in grants and low-interest loans to developing countries through projects empowering more than 410 million people to break out of poverty, thereby helping to create vibrant rural communities. (vov.vn Jan 18)
