The Asian Development Bank (ADB) will grant Viet Nam a 30 million-USD loan to help the latter carry out a project to improve and modernise its agricultural science and technology.

The Vietnamese Government will contribute 10 million USD equivalent toward the project’s total estimated cost of 40 million USD and scheduled for completion around December 2011. The project complements the Agriculture Sector Development Program me, which was approved in 2002 with a 90 million USD loan from ADB, ADB said.

The project will contribute to boosting agricultural research and rural-based training. It aims to promote more client-oriented activities with improved mechanisms for disseminating technology that reflects demand, develop better physical and human resources, and improve linkages among the three covered areas.

The project will also fund research proposals that respond to the sector’s practical needs, support further training and graduate studies for staff of agricultural research institutes, and upgrade research and laboratory equipment in selected institutes.

It will also improve farmers’ access to agricultural extension services, or information or education, in mainly upland or remote areas in five provinces – Dak Nong, Nghe An, Ninh Thuan, Quang Nam, and Thanh Hoa. Training, such as on business skills, advanced agricultural science and technology, and integrated pest management, will be provided based on needs.

ADB’s new loan, taken from its Asian Development Fund, has a 32-year duration, including a grace period of 8 years. Interest is charged at 1% per annum during the grace period and 1.5% subsequently.