The Finance Ministry signed a 13.13 million SDR (equivalent to 19.9 million USD) aid agreement with the International Fund for Agricultural Development (IFAD) on November 9 to establish sustainable growth for ethnic minorities in Dak Nong.
The three-component aid, called 3EM project, aims to benefit poor and ethnic minority families in the Central Highlands province through improving their incomes, with priority to be given to women.
Part of the project will help change the farming habits of local ethnic minority groups, gearing them to production models that can develop a series of values for farm produce grown by local tribes. The project will also upgrade local infrastructure facilities with community involvement.
The second basket of aid will provide financial services for agricultural production. It is aimed at generating access to credit services for poor families through the Group of Sharing Responsibilities and minor aid through Groups of Women Savings and Credits.
The third funding component will help improve project management and execution with the establishment of a project steering board and a project management board.
For the Vietnamese side, Dak Nong province is committed to 2.3 million USD in partner investment, while the Bank of Agriculture and Rural Development (Agribank) is to contribute some 0.9 million USD in credits, and project beneficiaries, 0.7 million USD./.
