USAID to Fund $30M for Climate Change Response in Vietnam by 2017

The U.S. Agency for International Development (USAID) has approved a loan worth around $30 million for Vietnam to reduce carbon emissions and deal with huge negative impacts of climate change in the next five years. The project, to be carried out by the Winrock International in the 2013-2017 period, will benefit people in vulnerable forest and delta areas in the four provinces of Nghe An, Thanh Hoa, Nam Dinh and Long An. Under the project, the USAID will brief local residents on what to do in case of natural disasters as these areas face problems of deforestation and degradation of forests. Since 2000, the USAID has provided more than $588 million to development and relief efforts in Vietnam. Vietnam is listed among the five hardest-hit countries by climate change. Climate change is estimated to cost Vietnam $15 billion each year, accounting for 5% of the country’s gross domestic product (GDP). In recent months, Vietnam has received more financial support from many countries and international organizations, including the World Bank, the European Commission (EC), Australia, Finland, Japan and the Netherlands to cope with the global matter. (Thoi Bao Kinh Te – Economic Times May 7 p3)