EU Grants $21.63M to Vietnam in Aid of Climate Change Resilience, COVID-19

The European Union (EU) has granted EUR20 million ($21.63 million), via the French Development Agency (AFD) in Vietnam, to the Southeast Asian country in the backing of climate change resilience and relief of coronavirus disease (COVID-19) fallout, local media reported. The deal was sealed by Ambassador of the EU to Vietnam Giorgio Aliberti and AFD Director in the country Fabrice Richy in Hanoi on May 11. Per the agreement, the AFD and local authorities will mobilize the Water and Natural Resources Management (WARM) Facility to prepare and run investment projects co-extracted from the AFD loans and Vietnam’s own resources in the 2021-2029 period with an estimated capital of EUR200 million. Vietnam is one of the worst-stricken countries by climate change. Rising temperatures and sea levels, increased frequency of extreme weather phenomena, population growth, and urbanization are posing greater risks of coastal erosion, urban flooding, and drought. (VietnamNews, VnExpress, Vietnamanet, Lao Dong, Thoi Bao Tai Chinh Vietnam, Dan Tri)