The Swiss government and the World Bank (WB) signed an agreement to promote green and resilient growth in Vietnam’s major cities on November 4.

The $5 million grant initiative, financed by the Swiss State Secretariat for Economic Affairs (SECO), also aims to strengthen the ongoing partnership between Switzerland and the World Bank in advancing sustainable urban development in Vietnam.

 "This grant enables us to support continued dialogue to integrate sustainable practices within the city’s urban planning and economic policies, building a model for climate-resilient, and low-carbon urban development," said Ms. Mariam J. Sherman, World Bank’s Country Director for Vietnam, Cambodia and Lao PDR. 

“The funding will deepen our engagement with Vietnam’s largest cities, particularly Ho Chi Minh City, Da Nang, and Can Tho, as they advance toward a vision of green growth,” she remarked.

The Vietnam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund aims to help large cities in Vietnam grow more sustainably while managing the increasing risks and mitigating the future impacts of climate change.

Under this program, the World Bank will develop a knowledge base of technical and operational best practices, drawing on international expertise adapted to the local context, to provide strategic solutions for urban challenges. The program will also strengthen policy-making capacity and support cities and national agencies in mobilizing and diversifying financial resources for investment projects while promoting collaboration and knowledge sharing.

“This partnership reflects Switzerland’s commitment to sustainable urban development in Vietnam,”  Swiss Ambassador to Vietnam H.E.Thomas Gass said.

“By combining Swiss financing with World Bank knowledge, we aim to help Vietnamese cities achieve their green growth objectives while building resilience against climate challenges,” the ambassador added.

Switzerland and the World Bank have been long-term strategic partners in supporting urban development in Vietnam. This initiative builds on previous successful collaborations, including one that established the country’s first flood risk management system in the Mekong Delta city of Can Tho.

The impact of these joint efforts extends beyond Vietnam, shaping the World Bank’s Sustainable Urban and Regional Development Program and City Resilience Program, both of which are also financed by Switzerland at the global level.

Source: VnEconomy