The International Fund for Agricultural Development (IFAD) signed anagreement in Rome on March 28 to provide 34 million USD for Vietnamto cope with climate change.

The signatories were Vietnamese Ambassador to Italy Nguyen Hoang Long and IFAD President Kanayo F. Nwanze.

The funding, under preferential conditions, will be used to carry outa project on sustainable rural development and climate changeadaptation in the Mekong Delta, especially in Ben Tre and Tra Vinhprovinces.

More than 30,000 households, mostly women andethnic minority groups, will benefit directly from the project whichfocuses on raising awareness and strengthening capacity to respond toclimate change.
The IFAD leader praised Vietnam ’sachievements in agricultural and rural development and poverty reductionas well as its effective use of IFDA’s funding over the past twodecades.

He affirmed that his organisation will continue supporting the implementation of cooperation projects with Vietnam.

Ambassador Long thanked IFAD for its support for Vietnam over theyears, and spoke highly of the shift of its cooperation to helping thecountry in dealing with climate change – a difficult issue thatVietnam needs to solve.

He said Vietnam , in its newdevelopment period, needs international cooperation to improve thequality of development, affirming the country will use the fundingeffectively.

He also expressed hope that IFAD will greatlyassist Vietnam ’s programmes on sustainable rural development,climate change adaptation and poverty reduction.

IFAD, basedin Italy , started assisting Vietnam in 1991 with low-interestloans, particularly for farmers, fishermen, poor women and ethnicminorities.-VNA