World Bank loans Vietnam $560 million to support Mekong climate fight

The money will be used to fund urban development, climate resilience and sustainable livelihoods. Vietnam will use $250 million for the Can Tho Urban Development and Resilience Project, to reduce flood risk and improve connectivity between Can Tho’s city center and new urban areas, benefiting more than 420,000 urban dwellers, and help city authorities to manage disaster risks. The remaining $310 million will be used to build climate resilience and ensure sustainable livelihoods for 1.2 million people living in nine Mekong Delta provinces affected by climate change, saline intrusion, coastal erosion and flooding. “Recent extreme weather phenomena in the Mekong River Delta, including flooding, drought and salinity intrusion, are negatively affecting the lives of people in the region – both in urban and rural areas, most of whom are poor,” said Achim Fock, acting country director for the World Bank in Vietnam. “We believe the projects signed today will contribute to efforts to help the region adapt to climate change in a sustainable manner,” he added. The Mekong Delta Integrated Climate Resilience and Sustainable Livelihoods Project supports climate-smart planning and improved climate resilience on land and water. The project will benefit farmers in the upper delta provinces and aquaculture farms along the coastal provinces in the region, including the Khmer ethnic minority people living in Soc Trang and Tra Vinh provinces. The project is a critical part of the World Bank’s long-term engagement in the Mekong Delta to strengthen integrated adaptive delta management by bringing together different sectors and provinces… [Read full story]