PM Nguyen Tan Dung on Monday agreed to supplement funds and extend implementation duration for the Forest Sector Development Project.
Additional sum of US $30 million for the project will be financed by the International Development Association under the World Bank, bringing the project ODA capital to US $99.8 million.
The Government chief assigned the Ministry of Agriculture and Rural Development to coordinate with relevant agencies and the World Bank to finalize related documents before ratifying them.
Two new provinces will benefit from the expanded project, including Thanh Hoa and Nghe An.
The objective of the Forest Sector Development Project (FSDP) for Vietnam is to achieve sustainable management of plantation forests and the conservation of biodiversity in special use forests.
The project consists of four components: institutional development; smallholder plantation forest; special use forest; and project management and monitoring and evaluation (M&E). Of these, the smallholder plantation forest and the special use forest components are the two main investment components.