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This credit has a 25-year maturity with a 5-year grace period.
Vietnam is one of the most vulnerable countries affected by climate change, in particular to floods, storms, and sea-level rise. Climate change poses a significant threat to economic, social and human development, as well as the environment in the country. Impact from climate change in Vietnam is expected to take a heavy toll on public finance.
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 resilience and lower carbon intensity development.
The programme focuses on four policy goals under the three thematic pillars of adaptation, mitigation and cross-cutting issues:
Focusing on climate resilience and low carbon intensity development, the operation directly contributes to assisting Vietnam with sustainable development - one of the three pillars of the World Bank's new Country Partnership Strategy. Examples of outcomes supported by the programme are enhancing preparedness and adaptation to natural hazards, improving the management of water resources and scaling up energy efficiency practices.
