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Việt Nam, ADB sign deal on emergency grant to aid disaster response

Update: November, 26/2020 - 08:11

 

A flooded area in Triệu Phong District, the central province of Hà Tĩnh, on October 13, following heavy downpours. — VNA/VNS Photo Hồ Cầu

HÀ NỘI — Minister of Agriculture and Rural Development Nguyễn Xuân Cường and Country Director of the Asian Development Bank (ADB) Andrew Jeffries on Tuesday signed an agreement on the bank’s emergency grant of US$2.5 million to help Việt Nam address the consequences of natural disasters in the central region.

The grant is allocated from the Asia Pacific Disaster Response Fund, which was designed to support the ADB’s developing members affected by major natural disasters.

Minister Cường thanked ADB and Jeffries for assisting Việt Nam in responding to natural disasters, dealing with their aftermaths, and reconstruction efforts, especially in the central region, which was hit by several storms and historic floods since early October.

However, he noted, the reconstruction of important infrastructure facilities and the settlement of natural disasters’ consequences require stronger efforts by the Government, ministries, sectors, and the localities affected by storms and floods, as well as support from domestic and foreign organisations and individuals.

The Ministry of Agriculture and Rural Development and ADB are working to consider proposing the Government approve an emergency loan for rebuilding infrastructure facilities, with priority given to important works, so as to swiftly recover socio-economic activities in disaster-hit central provinces, Cường said.

For his part, Jeffries said after getting approval, the emergency loan from the ADB will be used as part of the Government’s budget to help the affected localities.

The ADB hopes that the Vietnamese Government will issue the approval soon so a loan agreement can be signed in March 2021, he added. — VNS

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