Germany provides EUR8 million to forest protection in Vietnam

Germany provides EUR8 million to forest protection in Vietnam Related image(s)

The signing ceremony between MARD and Germany's KfW Development Bank. (Photo: CPV) (CPV) - On November 18th, the Ministry of Agriculture and Rural Development (MARD) and Germany’s KfW Development Bank signed a financial agreement funding the project of protecting and managing the forest ecosystem in Quang Nam, Kon Tum and Gia Lai provinces (KfW10). Accordingly, KfW10 will be implemented over 7 years (2014-2020) with a total capital of EUR11.29 million. Of this, non-refundable ODA capital is EUR8 million and Vietnam’s reciprocal capital is EUR3.29 million. The project aims to contribute to maintaining the perfection of the ecosystem and biological diversity of the natural fresh ecosystem in Central and Central Highlands of Vietnam, as well as improving the living conditions for local people. The project will target protecting and managing natural forest and sustainable production with about 28,110 hectares in Quang Nam, Kon Tum and Gia Lai, ensuring a regular and stable income for 110 village communities through creating a diverse range of products from the forest. Deputy Minister of Agriculture and Rural Development, Ha Cong Tuan, said at the signing ceremony that the Government of the two countries have witnessed effective cooperation in many fields. Since 1995, the German Government, through the KfW Development Bank, has funded EUR120 million for 14 forest projects in Vietnam, in which 11 projects were hosted by the MARD. The projects significantly contributed to increasing forest coverage and developing the biological diversity of the forest ecosystem in a sustainable manner, helping to raise the income and standard of living for thousands of households in rural and remote areas./.