WB supports rice market integration for Mekong Delta
(VOV) -The World Bank (WB) has agreed to provide preferential loans totaling US$150 million to bolster rice production in the Mekong River Delta (MRD).
The announcement came at a May 12 conference in HCM City discussing the development of large-scale rice fields and linkages between agricultural production and consumption in the MRD.
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Under the programme, the WB will provide Vietnamese farmers and rice related agricultural businesses medium and long-term capital loans to fund the construction of warehouses and silos.
The WB will make funds available for the project in early 2015.
The Vietnam Food Association (VFA) reports that to qualify for the preferential loans, Vietnamese businesses need to submit a completed loan application package, including a well-prepared detailed business plan.
The Ministry of Agriculture and Rural Development (MARD) encourages linkages between agricultural production and sales, and says special allowances will be made for businesses applying for loans under the programme.