It is part of the government's initiative to develop 1 million hectares of low-carbon and high-quality rice fields.
The fund will be primarily sourced from a 360-million-dollar loan of the International Bank for Reconstruction and Development of the World Bank.
The remaining 15 million dollars will be invested by the Vietnamese government and local authorities.
The project aims to help Vietnamese farmers adapt to climate change and increase farm profitability while supporting small-scale producers through the development and strengthening of farmer organizations and cooperatives.
It will also mobilize credit resources for areas implementing low-carbon practices.
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