Vietnam to get $790 mln climate change funding

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Vietnam has received $790 million in pledges from donor countries and international organizations to devise measures to cope with climate change and curb carbon emissions, a state-run newspaper reported on Monday.

The World Bank-run Clean Technology Fund has pledged $250 million and the rest would come from governments of Denmark, France and Japan, the Hanoi Moi daily, run by the municipal authority, quoted national program officer Tran Thi Minh Ha as saying.

Vietnam is recognized as one of the most vulnerable countries to the effects of climate change. Floods, droughts and rising sea levels threaten the lives of millions of farmers and the yields from the country's top cash crops, rice and coffee.

State media did not give a breakdown for the pledges from the three donor countries.

The World Bank money was announced last December on the sidelines of the Copenhagen climate summit and is part of $800 million pledged by the Bank for Vietnam, Thailand and the Philippines to fight climate change and green their economies.

The money for Vietnam will target energy efficiency, renewable energy and enhancements to rail systems in Hanoi and Ho Chi Minh City, among other areas.

The Clean Technology Fund investments will mobilize financing of about $3.195 billion from the government, multilateral financiers, carbon finance and the private sector in Vietnam, the Bank said in December.

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