The World Bank (WB) has approved a loan of US$ 90 million to help Vietnam strengthen its climate change and green growth agenda in accordance with the World Bank Group’s Climate Change Action Plan.
|A rice field in the Mekong Delta dies of drought and saline intrusion (Photo: VNA)|
The WB Vietnam said together with the Mekong Delta Integrated Climate Resilience and Sustainable Livelihoods Project, the financing marks a new stage in the WB’s support for Vietnam when the country is focusing on inclusive green growth and eliminating risks in climate change response.
According to Achim Fock, Acting Country Director for the WB in Vietnam, fostering climate change adaptation and enhancing resilience is significant for the country’s sustainable development.
He noted that supporting this agenda in Vietnam is part of the WB’s global efforts to respond to climate change.
The financing is the first of the three credits that will back climate change and green growth policy actions under the Vietnamese Government’s Support Programme to Respond to Climate Change, led by the Ministry of Environment and Natural Resources.
The credits will be spent on the implementation of policies to improve integrated coastal zone planning and management, public investments benefiting climate change and green growth, water resource protection and greater water use efficiency and coastal forest plantation.
They will also be used to support policies in transportation, industrial production, energy saving and renewables that mitigate greenhouse gas emissions.