15:13 | 27/03/2015 Economy- Society
More than 43,000 households in central Vietnam have received access to micro finance and technical support to establish over 76,500 hectares of forest under a World Bank-supported project.
Implemented from 2005 to 2015 in the provinces of Binh Dinh, Quang Ngai, Quang Nam, Thua Thien Hue, Nghe An and Thanh Hoa, the Forest Sector Development Project has brought strong social, environmental and economic benefits to local communities.
“Many families have escaped poverty thanks to forest plantations under the project,” said Pham Quoc Chien, Director of the Project Central Coordination Unit.
The project funded efforts to survey land and facilitated the issuance of land use right certificates for about 35,000 households. Farmers use the certificates to apply for low-interest loans from the project’s fund managed by the Vietnam Bank for Social Policies.
“The project is the first, and to date, the only one in Vietnam using the approach of lending to small-holder plantation which proves to be much more sustainable, compared to the country’s traditional approach of subsidizing plantation,” said Nguyen Thi Thu Lan, World Bank Sr. Environmental Specialist, Project Task Team Leader.
Source VOV News