ADB OKs US$95M Loan for Crop Improvement, Clean Energy
The Asian Development Bank (ADB) will provide Vietnam a US$95 million loan for a project to improve the safety and quality of food crops and provide biogas for household use.
Ayumi Konishi, ADB country director for Vietnam, and Nguyen Van Giau, the Governor of the State Bank of Vietnam (SBV) signed a document to this effect in Hanoi June 30.
With total investment of US$110.4 million, the project aims to improve food regulations and quality control systems to ensure the safety and quality of food products for domestic consumption and export.
Improving quality and safety will enhance the competitiveness of Vietnam’s agricultural products in the global market, Konishi said.
The project will also help build biogas plants which both reduce health hazards from livestock waste and provide an alternative energy source for an estimated 40,000 households.
The project is expected to benefit directly around 3.6 million farmers in 16 provinces and generate about 1.4 million jobs in post-production work.
However, poor regulatory management, unsafe production environments, excessive use of fertilizers and the dumping of livestock waste often prevent the country's agricultural sector from meeting the required standards, he said.
Vietnam is now listed among the largest producers of fruits, vegetables and teas in Southeast Asia.
P.V
Vietnamese
