World Bank to lend Vietnam $90 million to cope with climate change

By    June 25, 2016 | 12:49 am PT
The World Bank has offered Vietnam a $90 million loan to help the Southeast Asian country cope with climate change.

The World Bank will help Vietnam strengthen its climate change and green growth agenda by funding the country to make policy reforms aligned with the World Bank Group’s Climate Change Action Plan.

“Fostering climate change adaptation and mitigation and enhancing resilience is important to Vietnam and the sustainability of its development,” says Achim Fock, acting country director for the World Bank in Vietnam.

“Supporting this agenda in Vietnam is part of our global effort to respond to climate change, a priority at the World Bank,” he added.

This is the first tranch in a series of three loans that aim to help Vietnam to take climate change and green growth policy actions.

The loan is intended to fund the implementation of policies to improve integrated coastal zone planning and management, public investments related to climate change and green growth, protection of water resources and greater water use efficiency and coastal forest development.

It will also support transportation and industrial production policies to improve air quality, and energy efficiency and renewables that will mitigate greenhouse gas emissions.

These actions are aimed at helping Vietnam prepare to implement the commitments it made ahead of the 2015 Paris Climate Change Conference organized by the United Nations Framework Convention on Climate Change.

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