Vietnam Raises $1.2B Int’l Aid for Climate Change Fight

The Vietnamese government has so far mobilized more than $1.2 billion in aid from the international community in efforts to cope with climate change, the Ministry of Natural Resources and Environment said. The funding will be spent on a national program on adaption to and mitigation of the impact of climate change and a program on water resources management and addressing climate change and tidal surge in Ho Chi Minh City and the Mekong Delta. Cooperation in manpower resources development, research and production for the water industry and decrease in greenhouse gas emission via deforestation and forest degradation control, sustainable forestry development are other priorities for the use of the fund, the ministry attributed. Reports from the ministry showed that only six southern provinces and cities submitted plans on dealing with climate change namely Ben Tre, Soc Trang, Bac Lieu, Ca Mau, Can Tho and HCM City. The remainders have not finished setting up their solutions although they have been financed already, it added. Local administrations have to date proposed 552 projects on cooping with climate change with a total investment of $3.6 billion.  Vietnam is listed among five hardest-hit countries by climate change. If sea level rises one meter, 5% of the country’s land, 11% of its population and 7% of its agricultural land would be affected with the losses estimated at 10% of GDP. The World Bank estimated that Vietnam will need to spend some $850 million per year on climate change projects from now to 2050. (Vietnamplus.vn June 27, Sai Gon Giai Phong – Saigon Liberation June 27)