IFAD Helps Mobilize $788M for 17 Agro Projects in Vietnam in 30 Years

The International Fund for Agricultural Development (IFAD) has supported 17 projects and mobilized more than $788 million in Vietnam in the last 30 years, including $420.5 million from the fund itself, state media reported.

Such projects have helped improve the lives of 738,000 households and reduce poverty in the Southeast Asian country, IFAD said at a ceremony in Hanoi on October 24 to mark the three-decade partnership with Vietnam.

IFAD’s support has helped generate jobs, increase incomes, and facilitate the formation of saving and credit groups, promoting financial inclusion and economic empowerment, the fund added.

Going forward, IFAD’s partnership with Vietnam will focus on addressing the impacts of climate change and ensuring the full participation of marginalized groups, said IFAD Associate Vice President Guoqi Wu.

Vietnamese Deputy Minister of Agriculture and Rural Development Tran Thanh Nam acknowledged that IFAD’s long-standing collaboration with Vietnam has been instrumental in driving sustainable development in rural areas.

(Dang Cong San, Cong Ly, Giao Duc Thoi Dai, The Investor, MPI, IFAD)