April 14, 2025 | 21:44 GMT +7

  • Click to copy
Thursday- 19:59, 09/03/2023

Propose the World bank to support the 1 million ha rice production scheme

(VAN) Deputy Minister Tran Thanh Nam recently had a working session with WB on the 'Scheme for sustainable production of 1 million ha of high quality rice cultivation in the Mekong Delta'.
On March 7, Deputy Minister Tran Thanh Nam had a working session with the World Bank regarding the support for the 'Scheme for sustainable production of 1 million ha of high quality rice cultivation in the Mekong Delta'.

On March 7, Deputy Minister Tran Thanh Nam had a working session with the World Bank regarding the support for the "Scheme for sustainable production of 1 million ha of high quality rice cultivation in the Mekong Delta".

According to Mr. Tran Thanh Nam, this is an important project advised by the Ministry of Agriculture and Rural Development to the Government. Nevertheless, it is also the desire of Mekong Delta communities in order to increase the value of rice, raise income and improve organization in agricultural production, ensuring the commitment to achieving net-zero emissions by 2050.

Deputy Minister Tran Thanh Nam said, in fact, the Mekong Delta faces more challenges besides climate change and production organization. While rice is the primary source of food security, the income of rice farmers remains extremely low.

“The Mekong Delta is tending to convert the cultivation of rice to other crops which can generate higher income, but if this issue continues to happen, the country’s food security will be threatened. We are determined to keep 3.8 million hectares of paddy fields, while also making sure to secure income for farmers.”

As for the World Bank, Ms. Zhou Cheng, Senior Specialist in Climate Finance, introduced the Transformative Carbon Asset Facility (TCAF), a commission fund of the World Bank that supports the efforts of countries in implementing market-based carbon pricing and facilitating private sector investments in low-carbon technologies.

Ms. Zhou Cheng, Senior Specialist in Climate Finance, introduced the Transformative Carbon Asset Facility (TCAF) at the working session.

Ms. Zhou Cheng, Senior Specialist in Climate Finance, introduced the Transformative Carbon Asset Facility (TCAF) at the working session.

TCAF's goal is to encourage Vietnam to develop high-quality rice cultivation and low-carbon emissions by giving results-based climate/carbon financing aid. Accordingly, TCAF can support Vietnam to implement the scheme by constructing a non-refundable plan for training, and building a Measurement – Reporting - Verification (MRV) system on the level of emission reduction. The WB can introduce and connect with carbon credit buyers through the fund. TCAF can also provide consultation for Vietnam in selecting carbon credits sales options in the world market.

TCAF is expected to support USD 20 million for phase 1, which is a non-refundable grant, and USD 20 million from the Scaling Climate Action by Lowering Emissions (SCALE) to buy about 5- 10% of certified carbon credits from the 1-million-hectare program, depending on the Government’s decision whether to transfer or not. The ultimate purpose is to pilot so that Vietnam can later transfer carbon credits to other countries.

It is expected that the World Bank will advance USD 10 million from the TCAF to build the baseline (MRV), and conduct training along with capacity building. All actions will be directly related to the VnSAT project area. The remaining USD 10 million will only be available when Vietnam signs to join the Memorandum of Partnership Agreement (MOPA). The payment is based on verified results. To get the first USD 10 million in support, Vietnam needs to sign the Letter of Intent with the World Bank to support the Project Idea Note (PIN). In phase 2, TCAF will be mobilizing additional capital from the World Bank's SCALE fund for approximately USD 60 million.

The 'Scheme for sustainable production of 1 million ha of high quality rice cultivation in the Mekong Delta' aims to increase the value of rice as well as farmer’s income, ensuring Vietnam’s commitment to achieving net-zero emissions by 2050.

The “Scheme for sustainable production of 1 million ha of high quality rice cultivation in the Mekong Delta” aims to increase the value of rice as well as farmer’s income, ensuring Vietnam’s commitment to achieving net-zero emissions by 2050.

Mr. Tran Thanh Nam highly appreciated the support of the World Bank and TCAF for the project; however, he affirmed that this is a difficult project with many challenges, from changing farmers' awareness, the soil salinity, to problems concerning the market.

The Agriculture and Rural Development leader also mentioned that one of the difficulties when implementing this project was the investment in the irrigation system.

Deputy Minister Tran Thanh Nam asked the World Bank to have projects to support cooperatives and businesses to invest in irrigation systems in areas that are planting low-emissions rice.

"This is the first project in the world on low-emissions rice cultivation, demonstrating the determination of the Government of Vietnam to its commitment to the world and also the determination of ministries and sectors to make the transition," said Mr. Tran Thanh Nam. He hoped that the World Bank and TCAF could support the project in measuring and gathering field data, transforming farmers' awareness, improving irrigation infrastructure and investing in agricultural cooperatives so that they can improve capacity and take a proactive stance in their fields.

Author: Linh Linh

Translated by Tran Bao Ngoc

The rice fields that ‘pave the way’ for scaling up One Million Hectares Rice Project

The rice fields that ‘pave the way’ for scaling up One Million Hectares Rice Project

(VAN) The results from pilot fields are catalyzing the expansion of the One million hectares of high-quality, low-emission rice project in Kien Giang.

Cuc Phuong National Park rescues many rare wildlife species from Da Nang

Cuc Phuong National Park rescues many rare wildlife species from Da Nang

(VAN) On the morning of April 11, Cuc Phuong National Park received 18 individuals of endangered and rare wild animals from Da Nang city.

FAO supports Vietnam in collecting data for 2025 Agricultural and Rural Census

FAO supports Vietnam in collecting data for 2025 Agricultural and Rural Census

(VAN) FAO supports Vietnam in enhancing survey sampling techniques for the 2025 nationwide agricultural and rural census.

Green transition: A foundation for a sustainable and equitable economy

Green transition: A foundation for a sustainable and equitable economy

(VAN) By participating in the green transition, manufacturers become an indispensable part of the circular economy, contributing to resource optimization and environmental protection.

How can 14 million tons of rice straw from one million hectares of rice be used?

How can 14 million tons of rice straw from one million hectares of rice be used?

(VAN) The One Million Hectares of High-Quality and Low-Emission Rice Program can generate nearly 14 million tons of straw annually, posing an urgent requirement to diversify straw-based products.

Nearly VND 4.3 trillion allocated for climate-resilient infrastructure development in ethnic minority areas

Nearly VND 4.3 trillion allocated for climate-resilient infrastructure development in ethnic minority areas

(VAN) This figure was recently announced at a conference held in Yen Bai, focusing on climate-resilient infrastructure development for ethnic minority regions.

Groundbreaking ceremony for Japan-funded evacuation center

Groundbreaking ceremony for Japan-funded evacuation center

(VAN) The evacuation center is a practical work in efforts to respond to natural disasters and adapt to climate change in vulnerable areas.

Read more