Germany pledges $170 mln for sustainable growth in Vietnam

The pledge was made after four days (July 20-23) of online discussions on development cooperation, according to a Germany embassy press release issued Thursday.

It said Germany’s Federal Ministry for Economic Cooperation and Development would provide €113.5 million ($134.7 million) for the next two years to help Vietnam deploy a sustainable development model.

The Federal Ministry of the Environment, Nature Conservation and Nuclear Safety, meanwhile, would give €30 million ($35.6 million) within the framework of the International Climate Initiative and to sponsor biodiversity and climate projects in Vietnam.

The online discussion was the first between the governments after Vietnam was deemed a global partner country within the framework of Germany's new strategies for development cooperation, the press release said.

It said the two countries would expand cooperation in several core areas including sustainable development, the Covid-19 pandemic and social issues.

The focus for the two countries' relations for the next two years would be climate protection, economic integration, climate change adaptation and biodiversity protection. Germany would also assist Vietnam deal with its shortage of skilled workers, help bolster sustainable supply chains and make recommendations on preventing illegal wildlife trade prevention and avoiding zoonotic diseases.