Vietnam was supported by EU and France against climate change

The European Union and the French Development Agency (AFD) have established a 20-million-euro ($21.5 million) fund to help Vietnam deal with climate change. The EU will provide the money as a non-refundable grant to the AFD to run the fund.

Photo: VnExpress

The European Union (EU) and the French Development Agency (AFD) have reached an agreement to strengthen their joint-cooperation for increasing Vietnam's resilience to climate change and natural hazards, and trying to ease the impact of COVID-19 in the Southeast Asian nation.

Under the agreement, the EU provides a grant of 20 million EUR (nearly US$21.6 million) to the AFD. The EU will provide the money as a non-refundable grant to the AFD to run the fund. The latter will in turn provide loans for strategic projects in Vietnam to improve the management of water and other resources and respond to challenges like floods and coastal erosion that climate change exacerbates.

In coordination with the Vietnamese Government and local administrations, the AFD will mobilise the Water and Natural Resources Management (WARM) Facility to prepare and implement investment projects co-financed with the AFD loans and Vietnam’s own resources over the period 2021-29 for an estimated total amount of 200 million EUR.

EU ambassador to Vietnam, Giorgio Aliberti, who signed an agreement for the fund with Fabrice Richy, director of AFD, in Vietnam on Monday, said: "Adaptation to climate change is crucial for the sustainability of Vietnam’s development, and water and natural resources are a key element of it.”

"The intention of the new 20-million-euro grant is to support Vietnam on a pathway towards a greener and resilient future and enhance natural resources management that will help restore and preserve ecosystems and boost the resilience of the local population."

The grant is fully in line with the EU's global priorities for international partnerships the achieve the European Green Deal. The increased management of natural resources will help restore and conserve ecosystems, enhance the resilience of local people and minimize the impact of the Covid-19 pandemic.

According to Fabrice Richy, Director of AFD in Vietnam, the WARM Facility directly addresses the needs of Vietnamese partners, including beneficiary provinces, through speeding up the evaluation and implementation of strategic investment projects for a roadmap to develop localities with good resilience capacities through research funding for preparatory stage and technical assistance.

These projects are at the heart of French cooperation in Vietnam, especially through the priorities in: cities and localities’ adaptation to climate change and natural disasters, Integrated and improved water resource management, and integrated coastal zone management.

Vietnam is one of the countries most severly affected by climate change and natural disasters. Rising temperatures and sea levels, and the increased frequency and intensity of extreme weather events combined with population growth and urbanisation are increasing the risk of coastal erosion, urban flooding and drought. In line with international commitments on climate change and sustainable development goals, the EU and AFD are actively supporting Vietnam in the areas of mitigation (energy transition) and climate change adaptation.

Source: VnExpress