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France, VN respond to climate change with $17.8m agreement

Update: May, 20/2015 - 08:00
Flash floods swept away seven people from one family in Lai Chau Province's Tam Duong District last year. Viet Nam is among the top 15 countries most affected by climate change. — VNA/VNS Photo Nguyen Cong Hai

HA NOI (VNS) — An agreement for a 20 million euro loan (US$17.8 million) to tackle climate change in Viet Nam was signed between the French and Vietnamese governments in Ha Noi yesterday.

The loan from the French Development Agency (AFD) was planned to fund the fifth tranche of the "Support Programme to Respond to Climate Change" (SPRCC), that aims to help the Vietnamese Government respond to climate change and promote low carbon development.

"Viet Nam is one of the countries most affected by the consequences of climate change, and this credit agreement highlights the joint efforts by the Vietnamese and French governments and the AFD to combat climate change to promote green growth," said Deputy Minister of Finance Truong Chi Trung.

Global research indicates that Viet Nam is among the top 15 countries most affected by climate change, and is struggling to contain damage caused by rapidly increasing exhaust fumes. Exhaust fumes are expected to rise by two times from 200 billion tonnes of CO2 in 2010 over the next three decades.

"In the framework of the SP-RCC programme, the AFD has actively supported the Vietnamese Government, both regulatory and financially, to adapt to climate change," said Trung.

This was part of the efforts being made by Viet Nam in preparation for the upcoming 21st Conference of the Parties (COP) of the United Nation's Framework Convention on Climate Change to be held in Paris this December, added Trung.

This fifth tranche has brought the total contribution of the AFD to the programme to 100 million euros ($89 million) since it was first initiated by the AFD and the Japan International Cooperation Agency (JICA) in 2009.

French Ambassador to Viet Nam Jean-Noel Poirier said that response to climate change had and would always be a key issue in the co-operation between France and Viet Nam.

"Over the period of 2006-2014, about half of the more than $1 billion of support committed by the AFD to Viet Nam was provided to projects related to climate," he said.

The funds co-benefited climate development projects in different sectors, including public transport, energy, flood control and agriculture. — VNS

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