Vietnam Needs US$2.25B for Agriculture Sector in 2010-2015

Vietnam will need US$2 billion to US$2.25 billion for agriculture development in the period of 2010 and 2015, an increases of 1.5 times against the previous five years’ figure, state media reported.

 

Le Van Minh, director general of the International Cooperation Development of the Ministry of Agriculture and Rural Development (MARD), made the statement at the International Support Group (ISG) meeting 2009 for ODA for agriculture and rural development from 2010 to 2015 Wednesday in Hanoi.

 

Minh stressed that Vietnam’s agriculture sector needs between US$400 million and US$500 million in official development assistance (ODA) annually.

 

Minh said that the money will be spent on four main targets, including implementation of “Tam Nong” policy, poverty reduction and hunger elimination, food safety and food security.

 

In 1993-2008, around US$5.5 billion of ODA were reserved for agricultural development and the national program for poverty reduction, accounting for 40%-50% of programs and development projects managed by the MARD, or 15.66% of the total ODA in Vietnam, minister of Agriculture and Rural Development, Cao Duc Phat said.

 

Some 40% of the ODA was for irrigation, 23% for agriculture and 19% for forestry sector, Phat added. (Vietnam Agriculture, VNS)