Illustrative photo (Source: AFD in Vietnam)

An agreement, which aims to strengthen joint cooperation for supporting Vietnam, was signed by Ambassador of the EU to Vietnam Giorgio Aliberti and AFD Director in the country Fabrice Richy on May 11.

Under the deal, the EU will provide a non-refundable grant of 20 million EUR (nearly 21.6 million USD) to the AFD.

In coordination with the Vietnamese Government and local administrations, the AFD will mobilise the Water and Natural Resources Management (WARM) Facility to prepare and implement investment projects co-financed with the AFD loans and Vietnam’s own resources over the period 2021-2029 for an estimated total amount of 200 million EUR.

As planned, the WARM Facility will support the preparation and implementation of more strategic investment projects, including "hard" and "soft" infrastructure for managing water and other natural resources, as well as helping localities respond challenges such as floods and coastal erosion.

Experience gained from the projects is expected to contribute to the process of strategic policy dialogue on climate, the environment, and natural resources management.

EU Ambassador Aliberti said adaptation to climate change is crucial for the sustainability of Vietnam’s development, and water and natural resources are a key element of this.

The intention of the new grant is to support Vietnam on a pathway towards a greener and resilient future, he added.

This aid is fully in line with the EU's global priorities for international partnerships, which look to reach green agreements.

The enhancement of natural resources management will help restore and protect ecosystems, enhance the resilience of local people and minimise the impact of the COVID-19 pandemic, the ambassador said./.

Source: Vietnamplus.vn