Sustainable development project in Vietnam

business February 02, 2014 00:00

By The Nation

5,311 Viewed

In two northern provinces of Vietnam, Ha Tinh and Quang Binh, more than 60,000 households are suffering from poverty.

Around the country, poverty levels are particularly high in the upland areas, especially amongst ethnic minorities – and land degradation is a serious threat to their livelihoods.
The “Sustainable Rural Development for the Poor Project” has been launched to help them, with US$22.5 million (Bt735 million) and a grant of $500,000 from the International Fund for Agricultural Development (IFAD). 
Of the total project cost of $46.24 million, $10 million will come from the Spanish Food Security Cofinancing Facility. 
This has brought the number of projects with IFAD financing to 11. Since 1993, the financing has risen to $313.6 million, benefiting 569,100 households.
To IFAD, Vietnam is a role model for many developing countries for its success in reducing poverty by accelerating development of its smallholder agricultural sector. 
However, more needs to be done to ensure that extremely poor rural households are included in market-based agricultural production and businesses. Poor farmers need the tools and knowledge so that their surplus products are bought by high-value supermarket chains, and not just sold locally.
The project aims to invest in socially equitable and profitable rural development that promotes pro-poor market linkages and value chains for more competitive rural businesses.