THE SOCIALIST REPUBLIC OF VIET NAM
Government News
ADB-funded Rural Enterprise Finance Project extended
VNGOVNet – Considering the proposal of the Ministry of Planning and Investment, the PM has just agreed to the extension of the Rural Enterprise Finance Project (Loan 1802-VIE) funded from the Asia Development Bank (ADB) to November 30, 2007.
Accordingly, the PM allowed to transfer US$3 million in ADB funds from the component “Strengthening institutional capacity” to “Provision of credit".
The PM entrusted the State Bank of Vietnam to collaborate with the ADB to fulfill the procedures on the credit restructuring and project extension.
The Project “Rural Enterprise Finance” has a total cost of US$80 million. It is aimed at financing rural agro-based enterprises to improve productivity and produce quality, which will help to accelerate economic growth and job generation; promoting economic activities in these areas; narrowing the rich-poor gap between rural and urban areas; and building capacity for the system of People’s Credit Funds.
By Xuân Hồng
(Source: Document 2061/TTg-QHQT)