WB provides US$560 million to help VN adapt to climate change
VGP - The World Bank (WB) and the State Bank of Viet Nam (SBV) on July 11 signed agreements on a loan and credit, worth US$560 million to support urban development, climate change adaption and sustainable livelihood in the Mekong Delta.
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The project is expected to benefit 420,000 people living in Can Tho City as well as help the local authority control natural disaster risks.
The other US$310 million is aimed at enhancing climate change resilience capacity and ensuring a sustainable livelihood for 1.2 million people in nine Mekong Delta provinces affected by climate change, sea-water intrusion, coastal erosion and flooding.
The importance projects, within the WB's long-term program, look to support the Mekong Delta region to enhance the adaptable capacity through connections between agencies and local authority to develop plans, identify prioritized objectives and implementing resilience climate projects.
Acting Country Director for the World Bank in Viet Nam Achim Fock expected that these projects will help the region adapt to climate change in a sustainable manner.
By Viet Cuong
