HomeNews Vietnam to get $790 mln climate change funding
Vietnam to get $790 mln climate change funding
Tuesday, 09 March 2010
Vietnam has received $790 million in pledges from donor
countries and international organisations to devise measures to cope with
climate change and curb carbon emissions, a state-run newspaper reported on
Monday.
The World Bank-run Clean Technology Fund has pledged $250
million and the rest would come from governments of Denmark,
France and Japan, the
Hanoi Moi daily, run by the municipal authority, quoted national programme
officer Tran Thi Minh Ha as saying.
Vietnam
is recognised as one of the most vulnerable countries to the effects of climate
change. Floods, droughts and rising sea levels threaten the lives of millions
of farmers and the yields from the country's top cash crops, rice and coffee.
State media did not give a breakdown for the pledges from
the three donor countries.
The World Bank money was announced last December on the
sidelines of the Copenhagen climate summit and
is part of $800 million pledged by the Bank for Vietnam,
Thailand and the Philippines to
fight climate change and green their economies.
The money for Vietnam
will target energy efficiency, renewable energy and enhancements to rail
systems in Hanoi and HoChMinhCity,
among other areas.
The Clean Technology Fund investments will mobilise financing of about
$3.195 billion from the government, multilateral financiers, carbon finance and
the private sector in Vietnam,
the Bank said in December.