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The Asian Development Bank (ADB) will provide Vietnam with loans worth 111.88 million USD to help the country enhance low carbon agriculture development, and strengthen the Government’s capacity to set up and implement ADB-financed projects.

Agreements on the loans were signed in Hanoi on March 7, according to a press release issued by the ADB the same day.

ADB Country Director for Vietnam Tomoyuki Kimura said his institution is ready to support Vietnam to realise the vision of low carbon and inclusive growth and transform the country’s agriculture production into a more environment-friendly and sustainable system.

The 74 million USD loan sourced from the ADB’s Asian Development Fund (ADF) will be used for a low carbon agricultural support project.

The project will focus on mainstreaming climate-smart agricultural waste management practices by supporting waste management infrastructure, providing credit for biogas value chains and facilitating the transfer and deployment of advanced technologies to manage agricultural waste.

It looks to reduce pollution from agricultural waste and improve the environment in some ten provinces across the country.

The 37.88 million USD sum, also coming from the ADF, will help improve the Vietnamese Government’s setting up, preparation and implementation of ADB-financed projects to ensure effective aid utilisation.

Source: VNA