WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
ADB, LDC sign US$100 million loans to support smallholder farmer livelihoods
Ngoc Mai 10:49, 2022/04/07
The loan will support LDC’s operations in India, Indonesia, Pakistan, Thailand, and Vietnam by financing coffee, cotton, and rice inventories for over 50,000 smallholder farmers across these countries.

The Asian Development Bank (ADB) and Louis Dreyfus Company B.V. (LDC), signed a loan of up to US$100 million to help smallholder farmers recover from the economic challenges caused by the Covid-19 pandemic, and improve their resilience to climate change impacts.

 ADB Vice-President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa (L) meeting LDC’s Chief Commercial Officer and Head Asia Region James Zhou (R) at LDC’s office in Singapore.

The loan will support LDC’s operations in India, Indonesia, Pakistan, Thailand, and Vietnam by financing coffee, cotton, and rice inventories for over 50,000 smallholder farmers across these countries. This will help secure food supply chains and reliable incomes for smallholder farmers, and help offset the impact of supply chain disruptions due to the pandemic.

ADB Vice-President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa said smallholder farmers, who are already vulnerable to climate change, are facing increasing difficulties due to the pandemic, resulting in income loss, crop and food wastage, and supply chain disruptions.

“ADB’s assistance will help to ensure reliable offtake to farmers, providing a direct way to preserve their livelihoods and their assets, while enabling them to invest in climate-resilient farming practices.”

Accompanying technical assistance (TA) grant will deliver capacity building and training activities, that will reinforce the benefits of sustainable and climate-resilient agricultural practices for cotton farmers in India and coffee farmers in Indonesia.

The TA will support pilot-testing of drip irrigation in cotton fields in India, and the use of biochar kilns in Indonesia. Assistance under the TA is expected to benefit about 4,000 farmers, particularly women farmers. The TA funding comprises $205,000 from ADB’s Technical Assistance Special Fund for COVID Recovery and $385,000 from the Strategic Climate Fund, administered by ADB.

According to LDC’s Chief Commercial Officer and Head of Asia Region James Zhou, LDC is committed to empowering smallholder farmers, whose activities are key to global food security, to use sustainable farming practices for the benefit of current and future generations.

“With the right tools, knowledge, and support, farmers can lastingly improve their yields and livelihoods while preserving the environment. We look forward to collaborating with ADB toward this important goal,” he said.

RELATED NEWS
TAG: vietnam adb LDC Louis Dreyfus Company climate resilience vietnam farmer vietnam
Other news
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
20:15, 2024/08/11
Growing number of FDI firms moving to Vietnam
Over the past 20 years, Vietnam has emerged as a significant manufacturing hub, deeply integrated into global supply chains.
11:26, 2024/08/02
Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
The project, once completed, is expected to enhance the logistics ecosystem for Vietnam’s central region.