IFAD provides incentive for climate-adaptive livelihoods in wetland

Recently, the People’s Committee of Vinh Long Province launched the Innovation Finance Incentive for Livelihoods Adaptation in Wetland Areas (IFIA) project, supported by the Adaptation Fund (AF) through the International Fund for Agricultural Development (IFAD).

Mr. Nguyen Truc Son, Vice Chairman of the Vinh Long Provincial People’s Committee, said that the IFIA project comes at a very timely moment, addressing real needs and expanding opportunities for fair, innovative, and sustainable access to finance for local residents. The project not only provides capital but also, more importantly, enhances capacity, fosters self-reliance, and inspires a spirit of innovation among rural communities.

The People’s Committee of Vinh Long Province has committed to providing consistent, decisive, and unified guidance from the provincial to the grassroots level throughout the entire project implementation. At the same time, it will closely coordinate with the Ministry of Agriculture and Environment (MAE), the Ministry of Finance, the IFAD Fund, and other partners to effectively implement each component of the project. The province will ensure transparency, high accountability, proper use of funds, and maximum effectiveness of investment capital.

In addition, the province has identified four key strategic directions. First, putting people at the center, with all activities aimed at improving livelihoods, enhancing capacity, and creating equal opportunities for women, youth, and vulnerable groups. Second, strengthening institutional capacity and multi-sectoral coordination to ensure unity, efficiency, and consistency in implementation.

Third, promoting innovation and digital transformation to make financial services more accessible to rural residents. Fourth, committing to sustainable development, balancing economic, social, and environmental objectives. By that, the project aims to reduce barriers to financial inclusion and empower rural populations to manage savings, credit, investment opportunities more efficiently.

Nguyen My Hang from VASI (MAE), stated that: "Recently, we have closely coordinated with AF and IFAD to develop and finalize the project document for the component implemented by MAE, as well as the two components to be implemented in Tra Vinh and Ben Tre provinces (now Vinh Long Province). We will ensure that all project activities are implemented on schedule, on target, and effectively."

In early November, MAE approved the project document, supporting and accompanying the People’s Committee of Vinh Long Province, IFAD and IFAD in implementing the overall project in the coming period. The initiative aims at the common goal of sustainably developing coastal areas by promoting policies at both central and local levels, as well as enhancing capacity-building activities through training and workshops, and supporting communication efforts.

Ms. Hang noted that with the technical, financial, and international expertise support from partners, the project’s activities will contribute to the restoration, management, and sustainable use of valuable natural resources, while promoting environmentally friendly livelihood models suitable for climate change conditions. These efforts will help achieve national goals for sustainable blue economy development based on green growth, proactive adaptation to climate change and sea-level rise, preventing marine environmental degradation, and restoring and conserving key marine ecosystems.

According to Ms. Hang, in the coming period, the Department will closely accompany the project and hopes to receive support from Vinh Long’s provincial departments and agencies, as well as project partners, to ensure that all project activities are implemented on schedule, on target, and effectively.

"I am confident that through the project’s activities and the collaboration among stakeholders especially between central and local authorities. The outcomes and experiences from the project will be scaled up and serve as a basis for proposing policies related to integrated coastal and island management," Ms. Hang shared.