The agreement between the World Bank (WB) and State Bank of Viet Nam (SBV) will provide a loan of US$560 to support urban development, climate change adaption and sustainable livelihood in the Mekong Delta.
According to the agreement signed on Jul 11, US$310 million will be used to support the climate change adaption and sustainable livelihood development in nine Mekong Delta provinces in Viet Nam where the impacts of climate change, sea-water intrusion, coastal erosion and flooding have become dramatically serious.
Other US$250 million will be handed to Can Tho Urban Development and Resilience Project to develop solutions to reduce flood risks, as well as to improve the transport links between the center of the city and its new urban areas.
An estimate of 1.2 million people in Viet Nam’s Mekong Delta region in general and 420,000 people in Can Tho City in particular will be benefited from these projects. Acting Country Director for the World Bank in Viet Nam, Achim Fock expected that World Bank’s support will help the region adapt to climate change in a sustainable manner.