Vietnam PM Oks Disaster Risk Management Credit Agreement Extension

Vietnamese Prime Minister Nguyen Tan Dung has agreed to extend the development credit agreement within the framework of the World Bank-funded disaster risk management project to June 30, 2012.
The State Bank of Vietnam was assigned to work with the global bank for the agreement extension, the government said on its website June 22. Accordingly, the Ministry of Natural Resources and Environment will cooperate with the Ministry of Agriculture and Rural Development to ensure a completion by the set schedule. The project will help build a comprehensive framework in disaster risk management to mitigate the vulnerability of suffering areas by effective post-disaster reconstruction with the operation of capable organizations. Natural disasters have caused an estimated loss of nearly VND30 trillion ($1.44 billion) to central Vietnam since 2009, the MARD said. Vietnam is among the world’s top ten countries hardest hit by calamities, including storms, flood, flash flood, landslide and draught while disaster-caused deathtoll may hit 800 per year, local experts said. (Ha Noi Moi – New Hanoi June 24 p3, baodientu.chinhphu.vn June 22)