ADB Backs Vietnamese Agriculture Projects

The Asian Development Bank has set aside more than USD100 million to support agriculture and rural development initiatives in Vietnam in 2011.

ADB is providing USD80 million to cofinance the Northern Chu and Southern Ma Rivers Irrigation Project, VOV News reports. The bank has also approved a USD60 million loan for a reservoir project in Phuoc Hoa.

Vietnam is also set to benefit from the USD80 million the ADB is providing for an initiative that aims to mitigate the effects of droughts and floods in the Greater Mekong Subregion.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.