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The Government chief assigned the Governor of State Bank of Vietnam, Nguyen Van Binh, to sign the funding agreement and relevant documents with the World Bank.

The objective of the Additional Financing for the Forest Sector Development Project for Vietnam is to achieve sustainable management of plantation forests and the conservation of biodiversity in special use forests.

The additional credit will help finance the costs associated with the:

- Continuation and expansion of the smallholder plantation forestry program in the existing four project provinces of Thua Thien Hue, Quang Nam, Quang Ngai, and Binh Dinh;

- Scale-up of the plantation program to two additional provinces, Thanh Hoa and Nghe An;

- Continued institutional development, training, and technical assistance, and policy analysis activities at the national level to deepen project impacts;

- Piloting of independent certification of smallholder plantations.

In addition, it is proposed to align the way the project development objective is formulated in the development credit agreement with the formulation in the project appraisal document of the parent project..

By Khanh Phuong