WB supports VN with 84.

4 million USD to respond to climate change

According to the World Bank’s announcement on June 5, the Bank’s Board of

Executive Directors had approved an 84.4 million USD credit from the
International Development Association to support Vietnam’s multi-sectoral
policy reforms in order to promote climate resilience on the basis of natural
resource protection, transportation development and green energy.

Ousmane Dione, WB Country Director for Vietnam, said that the new financing
would focus on areas which could lead to breakthrough improvements to tackle
climate change challanges. It reflects the World Bank’s strong commitment to
help Vietnam maintain the momentum under the Support Programme to
Respond to Climate Change (SP-RCC) while building a bridge to a new, post-
2020 phase of climate change programs.

The loan will help Viet Nam’s government to minimize the impacts of climate
change by strengthening the resilient management of landscapes and natural
resources and effective management of public investments.

The loan will also focus on transportation development and green energy so as
to reduce the amount of greenhouse gas emissions and air pollution. It includes
the establishment of more stringent vehicle emissions standards, adoption of a
new national energy efficiency programme and enhanced incentive mechanisms
to increase the nation’s wind generation capacity.