On January 29, 2026, in Buon Ma Thuot City, Dak Lak Province, the kick-off conference of the project “Achieving emission reduction in the Central Highlands and South Central Coast of Viet Nam to support National REDD+ Action Programme goals (RECAF)” (RECAF) was officially held. The conference was jointly organized by the Government of Viet Nam, the International Fund for Agricultural Development (IFAD) and the Green Climate Fund (GCF), marking an important milestone in the launch of a large-scale climate initiative aimed at promoting sustainable development in the Central Highlands and South Central Coast regions.

The RECAF Project has a total investment of approximately USD 127.5 million, comprising concessional loans from IFAD, non-refundable grants from GCF, and counterpart funding from the Government of Viet Nam. The project will be implemented during the 2026–2031 period in four provinces, namely Dak Lak, Gia Lai, Lam Dong and Khanh Hoa, with the objective of effectively contributing to the National REDD+ Action Programme, reducing greenhouse gas emissions, limiting deforestation and forest degradation, and protecting and restoring critical forest ecosystems.

Through community-based sustainable forest management activities, the development of agroforestry models, and deforestation-free agricultural value chains, the project aims to protect approximately 500,000 hectares of natural forest, convert around 145,000 hectares of forestry land to sustainable production models, and reduce or avoid an estimated 6.68 million tonnes of CO₂ emissions over the project’s lifetime. The project is expected to provide direct benefits to approximately 420,000 people and indirect benefits to more than one million people, with a particular focus on women, youth and ethnic minority communities, who are among the most vulnerable groups and highly dependent on forest resources and rural livelihoods.

The kick-off conference was attended by representatives of central ministries and agencies, local authorities of the participating provinces, the IFAD Country Director for Viet Nam, the United Nations Resident Coordinator in Viet Nam, and nearly 200 delegates from development organizations, international partners and research institutions. Participants shared orientations, commitments and solutions to ensure the effective, transparent and results-oriented implementation of the RECAF Project.

As a key financial partner of IFAD in Viet Nam, Agribank continues to reaffirm its role in participating in the management and implementation of international climate finance. Agribank not only performs its disbursement function but also acts as a green credit intermediary, supporting farmers, cooperatives and enterprises in accessing concessional financing to invest in sustainable agricultural value chains that meet international environmental and green development standards. At the same time, Agribank works closely with local Project Management Units to ensure the efficient and appropriate use of funds, thereby contributing to the promotion of sustainable investment in the project areas.

The implementation of the RECAF Project further demonstrates the strong commitment of Agribank, IFAD and partners to linking rural development objectives with forest protection and climate change response. Through the project, stakeholders aim to build sustainable development models that place people at the center, contribute to improved livelihoods, enhance community resilience, and make practical contributions to Viet Nam’s long-term green and sustainable development goals.

Kylie Nguyen