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Vietnam, Germany boost cooperation in climate change adaptation, sustainable forest development

Vietnam highly appreciates the valuable support of the German Government through KfW. Germany, through the German Reconstruction Bank (KfW), is one of Vietnam's largest bilateral donors.

Deputy Minister of Finance Tran Quoc Phuong (left) and a representative of the German Reconstruction Bank (KfW) sign a loan agreement and a grant agreement for the two projects at a ceremony in Hanoi on July 23. (Photo: Ministry of Finance)
Deputy Minister of Finance Tran Quoc Phuong (left) and a representative of the German Reconstruction Bank (KfW) sign a loan agreement and a grant agreement for the two projects at a ceremony in Hanoi on July 23. (Photo: Ministry of Finance)

Hanoi (VNA) – Vietnam and Germany signed a loan agreement and a grant agreement for two projects on integrated coastal zone management in the Mekong Delta, and sustainable forest development in the Central Highlands, at a working session between Deputy Minister of Finance Tran Quoc Phuong and German Ambassador to Vietnam Helga Margarete Barth in Hanoi on July 23.

Speaking at the signing ceremony, Phuong highlighted the German government's interest in strengthening the strategic partnership with Vietnam, saying that the European nation, through the German Reconstruction Bank (KfW), is one of Vietnam's largest bilateral donors.

According to him, the total value of the projects amounts to 60 million EUR (over 68.3 million USD). Vietnam highly appreciates the valuable support of the German Government through KfW, he said, spotlighting the significance of the two projects for the provinces of An Giang, Gia Lai, and Quang Ngai, and their contributions to Vietnam's socio-economic development, especially in enhancing climate change adaptation capacity, mitigating natural disaster risks, and improving the lives of people in disadvantaged areas.

The Vietnamese official requested managing agencies and investors of the projects to promptly direct relevant units to implement them in accordance with the schedule committed to the donors. He affirmed that the Ministry of Finance will continue to coordinate with Vietnamese ministries, agencies, and localities to actively implement the projects most effectively.

The ministry hopes to continue receiving close cooperation from the German Government in general, the embassy, and KfW in particular in effectively utilising the funds for these projects, contributing to improving the efficiency of using loans from Germany, Phuong added.

For her part, Helga expressed her gratitude to the Vietnamese side for their enthusiastic support in preparing and implementing the projects, stating that 60 million EUR is the largest committed amount that the German government has pledged to Vietnam through KfW in the past 10 years.

These projects aimed at supporting communities in coastal areas of the Mekong Delta and the Central Highlands in protecting and sustainably managing natural ecosystems, the diplomat said.

The two sides committed to effectively using the funds for the right purpose, and for the benefit of the supported people, in compliance with global commitments./.

VNA
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