February 24, 2024

Vietnam Ministry Seeks to Accelerate $115.6M WB-funded Fisheries Project

Vietnam’s Ministry of Agriculture and Rural Development (MARD) hosted a conference on January 8 to quicken progress of a sustainable fisheries development project partly funded by the World Bank (WB), local media reported.

Of $115.6 million capital for the project, $83.6 million will source from the WB’s International Bank for Reconstruction and Development (IBRD), $1.61 million of non-refundable aids from the Sustainable Trade Initiative (IDH) and the World Wide Fund for Nature (WWF), and $30.4 million of reciprocal capital.

The project will be implemented in six localities, namely Haiphong City and Thai Binh, Thanh Hoa, Binh Dinh, Khanh Hoa, and Kien Giang provinces.

In the first half of 2024, the MARD’s Central Projects Office (CPO) will appraise and approve the feasibility report, environmental impact assessment report, and compensation and resettlement policy for the project.

From June, the MARD and relevant localities will negotiate with the WB. The two sides are expected to sign an agreement in September.

(VnEconomy)

Post date: 2024-01-17