IFAD assists VN in rural development

At a ceremony to announce the sum on November 27, IFAD President Kanayo highly valued Viet Nam's achievements in agricultural and rural development and poverty reduction.

He expected that IFAD loans will assist poor farmers in increasing their adaption to climate change.

Vietnamese Ambassador to Italy Nguyen Hoang Long thanked IFAD for its recent support, especially for people in disadvantaged areas to cope with climate change.

He said the Vietnamese Government will continue to accelerate poverty reduction activities in the coming time and affirmed that Viet Nam will effectively use the loans from IFAD and other international organizations.

IFAD is one of international organizations which have offered many preferential loans for Viet Nam, especially in agricultural production, he added.

In December, Viet Nam will negotiate with IFAD on US$14 million loans for climate change adaptation in the two Mekong Delta provinces of Ben Tre and Tra Vinh.

Although Viet Nam is listed among middle income nations it still needs more loans from IFAD. The US$33 million grant is very important for two provinces to develop sustainable agriculture, especially in the context of climate change.

(Source: News.chinhphu.vn)