The World Bank Board of Directors on February 2, 2012 approved a US$ 70 million Vietnam Climate Change Development Policy Operation, the first of a series of three operations to support the development and adoption of priority actions to strengthen policies, strategies and institutions needed to respond to Climate Change.

 The objective of this specific operation is to support Vietnam in its efforts to address climate change by adopting policies and strengthening institutional capacity to promote climate resilient and lower carbon intensity development.

The program focuses on four policy goals under the three thematic pillars of adaptation, mitigation and cross-cutting issues: (I) Climate-resilient development: Improving the resilience of water resources; (II) Lower carbon intensity: Exploiting energy efficiency potentials; (III) Strengthening the capacity and preparedness to formulate, prioritize and implement climate change policies; (IV) Strengthening the financing framework to support climate change action.

The World Bank is providing a US$70 million credit from the International Development Association –its concessional lending resource for low income countries. This credit has a 25-year maturity with 5-year grace period.

The operation directly contributes to assisting Vietnam with sustainable development - one of the three pillars of the World Bank's new Country Partnership Strategy./. 

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