The Dutch Entrepreneurial Development Bank (FMO) and Vietnamese Loc Troi Group JSC on November 2 signed a Letter of Intent for a 90 million USD credit package, to promote sustainable rice production in Vietnam.
FMO will finance Loc Troi Group to fund projects linked to sustainable rice production and agricultural infrastructure, including machinery and warehouses at 10 rice factories owned by the Loc Troi agricultural ecosystem members, thereby enhancing Loc Troi’s rice production and supply capacity.
At the signing ceremony between FMO and Loc Troi.
Loc Troi Group has proven its strict abidance by regulations on labour, the use of child labour, gender equality, the supplier evaluation process, land procedures, environmental pollution, and improvements to people’s lives in Loc Troi’s operating areas.
The cooperation is expected to improve the lives of farmers, ensure food security, increase climate change adaptation and reduce greenhouse gas emissions.
With this credit package, Loc Troi is committed to promoting sustainable agricultural development, including that of its partners in the supply chain, improving farmer’s livelihoods and building a more liveable rural environment.