The World Bank (WB) will continue to support Vietnam in coping with climate change, boosting the green growth and developing a low-carbon economy, by bringing in both global knowledge and financing, a bank leader has said.
The WB is willing to help Vietnam develop comprehensive policies and programs to mobilize necessary financial resources, and supports the country to increase its role in the international arena in climate change adaptation, WB Group Vice President & Special Envoy in charge of Climate Change, Rachel Kyte, said during her visit to Vietnam on Aug. 24-25.
During the trip, Kyte met President Truong Tan Sang, and Prime Minister Nguyen Tan Dung to discuss several areas of mutual interest, including building resilience in vulnerable areas and sectors.
She congratulated Vietnam on the high-level attention to building resilience of vulnerable areas like the Mekong Delta – which are especially impacted by climate change and disaster risks, as well as the country’s green growth strategy and action plan, and urged it to forge ahead on a low carbon and resilient growth path.
"Climate change is a fact. It is intensifying threats to development and growth and there is no benefit in delaying action," she said in her meeting with PM Dung.
Prime Minister Nguyen Tan Dung welcomes World Bank Group Vice President Rachel Kyte in Hanoi.
"Vietnam recognizes the need to coordinate climate action at the highest level and we look forward to continuing to work together to tackle the climate challenge,” Kyte said
Kyte also participated in a Mekong Delta Roundtable on collaboration amongst development partners, and a dialogue with private sector companies on investments opportunities relating to climate change.
In a field trip to Ben Tre province, she learnt first-hand about the impacts that salinity intrusion and coastal erosion are already having on local economic development, people’s livelihoods, and gained an understanding of the adaptation strategies and coping mechanisms of local communities, according to a World Bank report.
Livelihoods in Vietnam, which is part of "vulnerable" Southeast Asia, are facing threats from sea-level rise, ocean warming, and more severe storms and floods caused by an increasing possibility of the temperature rising by four degrees Celsius, the World Bank warned in a report last year.