WB to lend Vietnam $65mln for food safety

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The World Bank (WB) will offer a credit of nearly $65.3 million to help Vietnam country improve food safety through the Livestock Competitiveness and Food Safety Project.

Under an agreement signed between the State Bank of Vietnam and the WB in Vietnam on December 10, money will used to improve the overall competitiveness of Vietnam’s livestock production, mainly in the meat supply chain, by addressing the main constraints and risks faced by household-based livestock producers.

The project, with total cost of $79.03 million, aims to increase efficiency at household producers through the adoption of Good Animal Husbandry Practices. It is expected to be completed in mid 2015.

The agriculture sector currently accounts for 22 percent of GDP and more than 60 percent of employment, of which the livestock sub-sector accounts for 27 percent of agriculture’s contribution to GDP (about 6 percent of total GDP).

Reported by Ngan Anh

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