The Asian Development Bank (ADB) has selected the Mekong Delta city of Can Tho and Hue city in the central province of Thua Thien-Hue to benefit from its technical assistance project offering disaster risk financing solutions to cope with climate change.
The project is funded by a 1 million USD non-refundable aid package approved by the bank in November, 2011.
At a working session with authorities of Can Tho City and the Urban Development Agency under Ministry of Construction on July 16, Tran Hoang Yen, a specialist from ADB said the scheme will help the two cities to develop and use financial tools to manage disasters’ risks more effectively.
She said the ADB considers Vietnam one of the countries suffering the most from natural disasters, which impact both people’s life and the economy. At the same time, climate change has resulted in increasing number and intensity of such the disasters.
The project is expected to help Vietnam put in place financial solutions to mitigate natural disasters’ impacts, including indirect consequences, and facilitate post-disaster restoration.