Vietnam Gets German Eco-Cash

Posted: November 18, 2014 in Econ 101

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German aid to help Vietnam in forest ecosystem protection

HANOI, Nov. 18 (Xinhua) — Germany will offer Vietnam a non- refundable aid worth 8 million euros (nearly 10 million U.S. dollars) to help Vietnam in forest ecosystem protection and management, Vietnam’s state-run news agency VNA reported on Tuesday.

The Vietnamese Ministry of Agriculture and Rural Development and Germany’s government-owned development bank KfW signed an agreement here on Tuesday on the non-refundable aid for the protection and general management of forest ecosystems in three central provinces of the Southeast Asian country.

The aid is part of an 11.29 million euro project, and the remaining 3.29 million euros will come from the Vietnamese side.

The project is aimed to contribute to maintaining the integrity of ecosystems and biological diversity of forest ecosystems in an area of 28,110 hectares in Vietnam’s central and central highland regions.

According to Deputy Minister Ha Cong Tuan, the German government has provided Vietnam with financial aid worth 120 million euros (nearly 150 million U.S. dollars) via KfW since 1995 to support 14 projects in the fields of afforestation and natural resource protection and management.

SOURCE: http://www.globalpost.com/dispatch/news/xinhua-news-agency/141118/german-aid-help-vietnam-forest-ecosystem-protection

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