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WB helps Vietnam cope with climate change

The World Bank (WB) has approved a credit worth 70 million USD to help Vietnam enhance its institutional capacity in coping with climate change, it said on November 9.

The World Bank (WB) hasapproved a credit worth 70 million USD to help Vietnam enhance itsinstitutional capacity in coping with climate change, it said onNovember 9.

The credit provides parallel financing for amulti-donor budget support program for the Vietnamese Government’sSupport Program to Respond to Climate Change.

Accordingly,the Japan International Cooperation Agency (JICA) and the FrenchDevelopment Agency will jointly provide roughly 145 million USD.

The Australian Agency for International Development (AusAID) willjoin with nearly 8 million AUD, and the Korea Eximbank with 30 millionUSD, bringing total budget support to Vietnam to about 253 millionUSD, as proposed by the country.

The sum is meant for climate change adaptation, mitigation and dealing with inter-sectoral issues.
It focuses on the water and energy sectors, integration of climatechange issues into development planning and creation of a morefavourable environment for financing for climate change responseactivities.

It also helps Vietnam establish a NationalClimate Change Strategy as well as mechanisms to mobilise financialsources to aid climate change response./.VNA

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