Vietnam Proposed to Issue Policies Supporting Flood-hit Areas

Vietnam’s Ministry of Construction has submitted for the government’s approval a project supporting poor people who are vulnerable to flood in northern and central coast areas. The project costs a combined of VND2.4 trillion ($115 million) will benefit roughly 86,000 residents in the flood-hit areas in 20 cities and provinces. The capital, which will come from the state budget, banks, and private sector, will enable residents to build houses, mitigating damages caused by natural calamity. The government is also proposed providing soft loans to the poor people in the flood-hit areas. Earlier in Danang, U.S. Rockefeller Foundation funded $400,000 to help the central coastal city of Danang upgrade houses for local residents. Being one of five hardest-hit countries by climate change, Vietnam suffers an estimated loss of $1.9 billion annually as showed in a report by the World Health Organization (WHO) and Emergency Events Database (EM-DAT). (Thoi Bao Kinh Te Viet Nam – Vietnam Economic Times June 24 p2, Chinhphu.vn June 23)