WB and Switzerland support sustainable urban development in Vietnam

The Swiss Government and the World Bank have signed an agreement to promote green growth and climate change adaptation in Vietnam’s major cities. The USD 5 million trust fund, funded by the Swiss State Secretariat for Economic Affairs (SECO), also strengthens the existing cooperation between Switzerland and the World Bank (WB) in promoting sustainable urban development in Vietnam.

“This financing allows us to continue working with urban authorities to integrate sustainable solutions into urban planning and economic policies, towards building low-carbon and climate-resilient development models,” said Mariam J. Sherman, World Bank Country Director for Vietnam, Cambodia and Lao PDR, adding: “We will step up our support for Vietnam’s largest cities such as Ho Chi Minh City, Da Nang and Can Tho as they move towards their green growth vision.”

This single-donor trust fund was established to promote green and sustainable growth in Vietnam’s major cities; while managing the increasing risks and mitigating the impacts of future climate change.

Under this program, the World Bank will build a knowledge base that synthesizes technical and operational best practices, drawing on international expertise and local context, to propose strategic solutions to urban challenges. The program will also enhance policy-making capacity and support cities and central agencies in mobilizing and diversifying investment sources, while promoting collaboration and knowledge sharing.

"By combining Swiss finance with the World Bank's knowledge, we aim to support Vietnamese cities in achieving green growth goals while improving their resilience to climate challenges," said Mr. Thomas Gass, Swiss Ambassador to Vietnam.

Switzerland and the World Bank are long-standing strategic partners in supporting urban development in Vietnam. This initiative builds on previous successful collaborations, including the establishment of Vietnam’s first flood risk management system in Can Tho City. The impact of these collaborations extends beyond Vietnam and also contributes to the development of two Swiss-funded global WB programs: the Sustainable Urban and Regional Development Program and the Climate-Resilient Cities Program.

Source: https://thoibaonganhang.vn/wb-va-thuy-si-ho-tro-phat-trien-do-thi-ben-vung-tai-viet-nam-157429.html