Thu. Nov 24th, 2022

The Asian Development Bank (ADB) will provide Vietnam with loans worth
111.88 million USD to help the country enhance low carbon agriculture
development, and strengthen the Government’s capacity to set up and
implement ADB-financed projects.

Agreements on the loans were signed in Hanoi on March 7, according to a press release issued by the ADB the same day.

ADB
Country Director for Vietnam Tomoyuki Kimura said his institution is
ready to support Vietnam to realise the vision of low carbon and
inclusive growth and transform the country’s agriculture production into
a more environment-friendly and sustainable system.

The 74
million USD loan sourced from the ADB’s Asian Development Fund (ADF)
will be used for a low carbon agricultural support project.

The
project will focus on mainstreaming climate-smart agricultural waste
management practices by supporting waste management infrastructure,
providing credit for biogas value chains and facilitating the transfer
and deployment of advanced technologies to manage agricultural waste.

It looks to reduce pollution from agricultural waste and improve the environment in some ten provinces across the country.

The 37.88 million USD sum, also coming from the ADF, will help improve
the Vietnamese Government’s setting up, preparation and implementation
of ADB-financed projects to ensure effective aid utilisation.-VNA

By vivian