Hanoi (VNA) – The Green Climate Fund (GCF) on April 1 officially approved a funding proposal submitted by the Japan International Cooperation Agency (JICA) in coordination with the Vietnamese Government for a results-based payment project under the REDD+ mechanism.
The project aims to reduce emissions from deforestation and forest degradation (REDD) while promoting conservation, sustainable forest management, and enhanced forest carbon stocks.
The funding recognises Vietnam’s achievements in forest protection recorded in 2014.
The proposal, titled “Vietnam REDD+ results-based payments for results period of 2014”, was endorsed at the 44th meeting of the GCF Board held in the Republic of Korea on March 26, 2026. Under the decision, Vietnam will receive 71.96 million USD through a results-based payment mechanism corresponding to independently verified greenhouse gas emission reductions.
These outcomes were achieved through efforts to curb deforestation and forest degradation while increasing carbon sequestration via afforestation and natural forest restoration activities.
The funding will be reinvested to strengthen the policy system, institutional capacity, and enforcement of forest protection measures. Project activities are expected to help address underlying drivers of deforestation, advance sustainable forest management, and improve livelihoods for forest-dependent local communities.
The six-year project will be led by Vietnam’s Ministry of Agriculture and Environment in coordination with provincial authorities across targeted areas in the northwestern and northeastern regions, including Dien Bien, Lai Chau, Lao Cai, Son La, Phu Tho, and Tuyen Quang provinces.
The project approval further underscores the long-standing and fruitful cooperation between JICA and Vietnam in implementing REDD+ initiatives, including policy making, forest monitoring system development, and emissions measurement and reporting.
JICA representatives said the agency will continue working closely with the Vietnamese Government and stakeholders to promote forest conservation, mitigate climate change impacts, and support sustainable development goals./.
VNA
