Agriculture Vietnam to Contribute $500,000 to International Agro Development Fund

Vietnamese Prime Minister just approved $500,000 from the State budget for contribution to the International Fund for Agricultural Development (IFAD) in the 2007-2009 period.

The PM asked the Finance Ministry, Ministry of Agriculture and Rural Development and relevant bodies to evaluate implementation of projects financed by IFAD during the past, and suggest solutions increasing project effectiveness. IFAD leaders expressed the desire that Vietnam would be an important partner in Southeast Asia, at the FAO Committee on Forestry's (COFO) 18th meeting which concluded in Rome Mar 16. At the meeting, IFAD decided to pour $38.7 million into a project to help Vietnam reduce poverty. Of the sum, around $24.73 million is loans and $630,000 is non-refundable aid. The agreement raised total projects supported by IFAD in Vietnam to 6, worth $105 million.