IFAD hails Vietnam’s effective cooperation
Permanent Representative of Vietnam to the International Fund for Agricultural Development (IFAD) Duong Hai Hung has presented his credentials to IFAD President Gilbert F. Houngbo.
Houngbo highly valued Vietnam’s effective cooperation with the IFAD, saying that the partnership is a model of cooperation between the agency and its member countries.
He thanked the Vietnamese Government for supporting the IFAD representative office in Hanoi and creating optimal conditions for the office to upgrade itself to an IFAD coordination centre in the Mekong region (Mekong Hub). The official also lauded the role of Vietnam in the common work of the IFAD through financial and technical contributions as well as activities of the country’s representative office in Rome.
He pledged that the IFAD will continue to coordinate with and assist Vietnam in the country’s socio-economic development in the future.
For his part, Ambassador Hung thanked the IFAD for supporting Vietnam over the past 29 years through aids, soft loans and technical assistance, thus providing important resources for the country’s socio-economic development, especially in the fields of agriculture and rural development.
The ambassador suggested that IFAD continue to support Vietnam by considering preferential loans to Vietnam, while helping the country seek aid sources and co-financing IFAD's projects. Hung affirmed that he will make every effort to increase Vietnam's contribution to IFAD's activities and promote effective cooperation with IFAD in the coming time.
Headquartered in Rome, IFAD, a specialised agency of the UN, was established in 1977 with the goal of eradicating poverty in rural areas of developing countries. The organisation currently has 177 members, operating with voluntary contributions of its members.
Vietnam joined IFAD in 1997 and is one of the few countries that enjoys IFAD's special preferential loans with an interest rate of 0.75-1% per year with a payment term of 50 years.
