United Nations launches $5 million project to fund Vietnamese farmers

The project will facilitate farmers' access to capital, apply climate change adaptation technology and participate in environmentally friendly agricultural value chains.

On November 11, the United Nations International Fund for Agricultural Development (IFAD) in collaboration with the Ministry of Agriculture and Environment and the People's Committee of Vinh Long province launched the project " Innovative financial mechanism to support adaptation in wetland livelihoods". (IFIA).

With a total capital of 5 million USD, the IFIA project pilots and institutionalizes innovative climate finance mechanisms, supporting small-scale farmers, ethnic minorities and youth in coastal areas of Vietnam to adapt to the increasingly severe impacts of climate change.

Mr. Nguyen Truc Son, Vice Chairman of Vinh Long Provincial People's Committee, spoke at the project launching ceremony. (Photo: IFAD)

The project is implemented in parallel with CSAT - Climate-smart Agricultural Value Chain Development Project funded by IFAD, aiming to promote public-private partnership and innovation in sustainable agricultural development.

Focusing on ecological aquaculture, ecotourism and sustainable mangrove management, the project will facilitate farmers’ access to capital, adoption of adaptive technologies and participation in environmentally friendly agricultural value chains.

“The project helps local communities be more proactive in climate adaptation,” Mr. Nguyen Truc Son, Vice Chairman of Vinh Long Provincial People's Committee, affirmed. “This is an opportunity to both develop the economy and protect natural resources.”

Mr. Ambrosio Barros, IFAD Country Director in Vietnam, emphasized: “We invest in solutions that benefit both farmers and the ecosystem. IFIA is designed to be scalable, replicable and truly transformative.”

The IFIA project will test and scale up innovative financial instruments in coastal livelihood activities, contributing to the conservation and sustainable use of wetland and mangrove ecosystems in the Mekong Delta.

The project runs from June 2025 to June 2029, with a mid-term review in January 2027 and a final review in December 2029.

Source: https://baolangson.vn/lien-hop-quoc-khoi-dong-du-an-5-trieu-usd-rot-von-cho-nong-dan-viet-nam-5064856.html