Japan and France on Friday signed an agreement to provide Vietnam with US$134 million to support the country's climate change adaptation programs from now until 2012.
"Vietnam is one of the most vulnerable countries in the world to climate change, and assisting Vietnam on this issue is the highest priority for JICA," JICA Chief Representative Motonori Tsuno said at the press briefing held to announce the agreement.
The funds will be put into a Support Program to Respond to Climate Change (SP-RCC), a policy-based lending support initiative devised by Japan to assist developing countries tackle climate change impacts.
Japan will provide US$110 million of the funding.
According to JICA, SP-RCC will support the implementation of Vietnam's National Target Program to respond to climate change, with the funding being put directly into the national budget instead of in different projects.
At the press briefing, the Japanese agency warned that Vietnam has the highest rate of increase in greenhouse gas emissions at 11.3 percent compared to 6.4 percent in China.