IFAD supports poor households in Bac Kan, Cao Bang

VGP – Viet Nam and the International Fund for Agricultural Development (IFAD)on March 24 signed a loan agreement, which aims to provide a financial assistance for increasing incomes and living standards for 30,000 households in the nation’s Northeast.

March 25, 2017 4:39 PM GMT+7

The agreement was inked by Vietnamese Ambassador to Italy Cao Chinh Thien and President of the IFAD Kanayo F. Nwanze in Rome, Italy.

Accordingly, the IFAD will supply US$43 million to carry out a US$74.3 million project to support farmers in the northern provinces of Bac Kan and Cao Bang.

The Vietnamese Government and these two provinces will contribute US$20.6 million and US$10.7 million to realize the project, respectively.

The project was designed to help enhance rural dwellers’ access to labor and goods markets as well as poor people’s adaptability to consequences of climate change.

Bac Kan and Cao Bang are among the poorest provinces in Viet Nam and nearly 90% of individual expenditures are for basic needs.

Since 1993, the IFAD has provided US$377.5 million for 15 programs and projects, directly benefiting 709,070 poor households in Viet Nam’s rural areas.

By Thuy Dung