1:32 PM, 28/03/2012
Credit agreement for forestry development project extended
VGP – The Government has agreed to extend the time of implementation of the World Bank-funded Forest Sector Development Project from March 31, 2012 to March 31, 2013.
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PM Nguyễn Tấn Dũng assigned the State Bank of Việt Nam to finalize extension proceedings with the World Bank.
The Ministry of Agriculture and Rural Development is responsible for approving a plan for the realization of the project and closely monitor the project deployment process.
The Forest Sector Development Project aims to achieve efficient and sustainable management of plantation forests and conservation of bio-diversity in special use forests in order to enhance the sector’s contributions to poverty reduction and environment protection in Việt Nam.
The project consists of four elements, namely institutional development, plantation, special use forests, and management-supervision-evaluation of the project.
The World Bank’s additional financing would provide forest growers a chance to access to preferential loans and receive technical assistance in forest plantation.
By Hương Giang
