The 5 million USD grant initiative, financed by the Swiss State Secretariat for Economic Affairs (SECO), also aims to strengthen the ongoing partnership between Switzerland and the World Bank in advancing sustainable urban development in Vietnam.
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Swiss Ambassador to Vietnam Thomas Gass (left) and World Bank Country Director for Vietnam, Cambodia and Lao, Mariam J. Sherman, at the signing ceremony of the Vietnam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund (Photo courtesy of the World Bank) |
“This grant enables us to support continued dialogue to integrate sustainable practices within the city’s urban planning and economic policies, building a model for climate-resilient, and low-carbon urban development,” said Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia and Laos.
“The funding will deepen our engagement with Vietnam’s largest cities, particularly Ho Chi Minh City, Da Nang and Can Tho, as they advance toward a vision of green growth.”
The Vietnam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund aims to help large Vietnamese cities grow more sustainably while managing the increasing risks and mitigating the future impacts of climate change.
Under this program, the World Bank will develop a knowledge base of technical and operational best practices, drawing on international expertise adapted to the local context, to provide strategic solutions for urban challenges.
The program will also strengthen policy-making capacity and support cities and national agencies in mobilizing and diversifying financial resources for investment projects while promoting collaboration and knowledge sharing.
“This partnership reflects Switzerland’s commitment to sustainable urban development in Vietnam,” said H.E. Thomas Gass, Swiss Ambassador to Vietnam.
“By combining Swiss financing with World Bank knowledge, we aim to help Vietnamese cities achieve their green growth objectives while building resilience against climate challenges.”
Switzerland and the World Bank have been long-term strategic partners in supporting urban development in Vietnam.
This initiative builds on previous successful collaborations, including one that established the country’s first flood risk management system in Can Tho.
The impact of these joint efforts extends beyond Vietnam, shaping the World Bank’s Sustainable Urban and Regional Development Program and City Resilience Program, both of which are also financed by Switzerland at the global level.
Source: VNA