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Vietnam Today

SBV signs ADB loan for central region climate change project

Released at: 16:39, 03/04/2017

SBV signs ADB loan for central region climate change project

Photo: sbv.gov.vn

Project to be implemented in Dong Hoi and Hoi An to 2023.

by Hai Van

State Bank of Vietnam Governor Le Minh Hung signed a Loan Agreement and an Aid Agreement with the Asian Development Bank (ADB) on March 25 for the “Development of Environmental and Urban Infrastructure to Respond to Climate Change” project in Dong Hoi (central Quang Binh province) and Hoi An (central Quang Nam province).

ADB pledged to sponsor $104 million for the project, of which $100 million is ordinary capital resources (OCR) loans and $4 million is non-refundable aid. The loan term is 25.5 years, with project implementation from 2017 to 2023.

The project aims to build infrastructure for climate change adaptation and flood avoidance in Dong Hoi and Hoi An.

It will also improve the capacity of agencies managing and implementing the project, raise public awareness, and strengthen the management capacity, operations, supervision and maintenance of works of a number of provincial and municipal agencies in order to ensure the efficient operation of the project.

Localities will receive assistance to reduce environmental pollution, improve the urban environment, and mitigate the negative impacts of climate change.

The project’s governing agencies are the Provincial People’s Committees of Quang Binh and Quang Nam. Executing agencies include the Dong Hoi Environment and Climate Change Project Management Unit and the Chu Lai Open Economic Zone Authority.

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