The Asian Development Bank (ADB) on October 10 launched a project to help mitigate risks of natural disasters in Vietnam’s central province of Thua Thien-Hue, state media reported. The project has a total fund of $2 million sourced from the Urban Climate Change Resilience Trust Fund (UCCRTF) managed by the ADB. It will be carried out throughout 2024 in Hue city, including the collection of public property database and design of insurance solutions. This is part of the green secondary cities development project worth $12.8 million sourced from the Special Climate Change Fund, the UCCTRF, and the Global Environment Fund and carried out in Thua Thien-Hue, Vinh Yen city in northern Vinh Phuc province, and Ha Giang city in northern Ha Giang province. Mr. Thomas W.Kessler, Principal Disaster Risk Insurance & Finance Specialist at the bank, said disaster risks in Vietnam are estimated to cause direct losses of averagely $1.4 billion every year. (Vietnam Plus, Vietnam Plus)
