The Asian Development Bank (ADB) says it will help Vietnam draw up and implement detailed climate change action plans with a technical assistance grant of US$2.5 million.
The grant comes from the Nordic Development Fund, administered by ADB, and it will be used to assist key cities and government departments in planning and implementing effective climate change responses, the Manila-based bank said in a statement on Tuesday.
The Vietnamese government will also provide counterpart financing of $250,000 for a total investment cost of $2.75 million, ADB said.
The bank said said Vietnam, with its low-lying deltas, "is highly vulnerable to climate change, including rising sea levels and extreme weather."
The two-year project, which is due to begin this May, will fund impact assessments to identify the risks to economic sectors and communities from climate change.
It will also support the design of greenhouse gas emission reduction projects.
"This project will help increase the capacity of target cities, ministries and provinces to respond effectively to the impacts of climate change," said Ayumi Konishi, ADB Country Director for Vietnam.