France to finance tea project in Northern Vietnam
HANOI - The French Agency for Development (AFD) will provide 8.5 million EUR (US$10.45 million) as loan for a project to plant tea in the northern midland province of Phu Tho.
An agreement to this effect was signed in Hanoi on September 12 by representatives from the Ministry of Finance and the AFD.
Under the agreement, 7.7 million EUR will be used for intensively cultivating the existing 2,500 hectares of tea, growing 3,000 new hectares and upgrading 115 kilometres of road sections linking the materials areas with tea factories.
The remaining sum of 0.8 million EUR will be allocated to training farmers, checking the quality of production and agricultural extension activities.
The loan will bring the total funding the AFD has committed to 29 projects in Vietnam to 550 million EUR.
Vietnam News Agency - September 13, 2005.
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