ADB helps Vietnam boost agro-science and technology

Thursday, 15 March 2007

VietNamNet Bridge - The Asian Development Bank (ADB) will provide $30 million in loan for a Vietnamese project aimed at modernising agricultural science and technology. An agreement was signed in Hanoi on Mar. 14 by Governor of the State Bank of Viet Nam Le Duc Thuy and the ADB’s Country Director for Vietnam Ayumi Konishi. Speaking at the signing ceremony, Konishi said: “Access to new technologies by farmers and agro-based enterprises is essential as Vietnam ’s agriculture is shifting its focus from increased production volumes to increased production values in the era of globalisation.” The ADB’s new loan, sourced from its concessional Asian Development Fund, carries a 32-year term, including a grace period of eight years. Its interest rate is 1 percent per annum during the grace period, and 1.5 percent subsequently. The project will address critical issues in three key areas, including agricultural research, extension, and rural-based training. It will also improve farmers’ access to agricultural extension services, information and education, in mainly upland or remote areas in the five central and central highland provinces of Nghe An, Ninh Thuan, Quang Nam, Thanh Hoa, and Dak Nong. (Source: VNA)

 

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