Agreements to this effect were signed in Hanoi on November 12 by Deputy Finance Minister Nguyen Cong Nghiep and AFD General Director Jean-Michel Severino and French Ambassador to Vietnam Herve Bolot.

Under the agreement on credit, EUR30 million will be spent on providing mid- and long-term loans to farming households and small- and medium-sized enterprises in rural areas through the people’s credit fund system.

Meanwhile, EUR500,000 will help the central and local people’s credit funds improve their capacity for financial management, governance, supervision and assessment.

The AFD has agreed to provide almost EUR 900 million in ODA to Vietnam.