BIDV gets WB’s credit loan for sustainable agricultural project

The Ministry of Finance November 30 agreed to give a loan of US$105 million to the Bank for Investment and Development of Vietnam (BIDV) for its Sustainable Agriculture Transformation Project.

The amount of US$105 million is taken from the World Bank’s preferential loan to Vietnam aiming to help the Southeast Asian nation to carry out the Sustainable Agriculture Transformation Project through increasing the sector’s capacity, changing models of cultivation and improving value chains of rice and coffee in the Mekong delta and the Central Highlands region.

The project will support governmental organizations in making researches and tranfering technique to farmers as well as supervise the transformation process.

The project is aimed to directly support 140,000 rice farmers in the eight Mekong delta provinces including Kien Giang, An Giang, Hau Giang, Tien Giang, Long An, Dong Thap, Can Tho and Soc Trang.

These farmers will have chance to assess advanced techniques and set up cooperation chains in production and consumption in an effect to increase farmers’ profit by 30 percent in every hectare of paddy field. Total value increase in the Mekong delta is expected to be US$ 40-60 million a year.

For the Central Highlands region, around 63 farmers in five provinces can benefit from project to help increase profit by 20 percent  and total value increase in the  region will reach US$50 million per year.

By Ham Yen - Translated by Anh Quan

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