Vietnam Approved Negotiation Result for WB-funded HCFC Phase-out Project

Vietnam’s Prime Minister Nguyen Tan Dung has approved the negotiation result for an ozone-depleting substance phase-out project with $9.76 million funding from the World Bank (WB).The PM has authorized Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh to sign an aid agreement with the WB representatives, the government said on its website.Earlier, the WB approved the amount of the grant from the Multilateral Fund for the Implementation of the Montreal Protocol to help Vietnam conduct the project.Accordingly, the funding will help Vietnam reduce its consumption of Hydrochlorofluorocarbons (HCFCs) in polyurethane (PU) foam production and support policies and regulations and technical assistance activities to curb HCFCs consumption by 2015.HCFCs are ozone-depleting substances with high global-warming potential and are subjected to consumption and production control by the Montreal Protocol on Substances that Deplete the Ozone Layer. Since Vietnam signed the protocol in Jan 1994, it has so far removed 500 billion tons of chlorofluorocarbons (CFCs) widely used in air conditioners and refrigerators and 3.8 tons of halon, a fire extinguishing agent.Vietnam needs an estimated $30 million to eliminate ozone depleting substances over the next 20 years. (baodientu.chinhphu.vn Nov 20)