Ha Noi, 26 June 2017 - On the occasion of the first visit to Viet Nam of H.E Howard Bamsey, Executive Director of the Green Climate Fund (GCF), a dialogue was organized by the Ministry of Planning and Investment (MPI) today to discuss how the country can accelerate actions to achieve climate resilient development and green growth. The event was attended by representatives from the key ministries, seven participating provinces in the first GCF-funded project for Viet Nam, GCF-accredited multilateral implementing entities, other development partners, State Bank of Viet Nam (SBV), Viet Nam Development Bank (VDB), other commercial banks, private companies, and national mass media agencies.

The GCF Executive Director’s institutional introduction mission aims to enhance the strategic cooperation between GCF and Viet Nam. While in Viet Nam, the GCF Executive Director paid courtesy calls to Deputy Prime Minister Vu Duc Dam and leaders of the Ministry of Planning and Investment, and the Ministry of Agriculture and Rural Development. He joined MPI leader to announce the first GCF-funded project in Viet Nam, and visit project site in Thanh Hoa Province. The GCF mission also met and discussed with potential national implementing entities (NIEs) of the GCF, including SBV and VDB.

Announcement of the first GCF-funded project for Viet Nam:

At the dialogue, the first GCF-funded project for Viet Nam entitled “Improving the resilience of vulnerable coastal communities to climate change related impacts in Viet Nam” with the cost of US$ 29.5 million was also announced. This project has been developed as a partnership between the United Nations Development Programme (UNDP), the Ministry of Agriculture and Rural Development, the Ministry of Construction, coastal provinces and MPI (as the Viet Nam's National Designated Authority to access the GCF’s fund support). This project focuses on supporting vulnerable, highly disaster-exposed communities to protect themselves from the impacts of frequent typhoons & floods, and to improve their livelihoods. The mangrove buffer zones will be regenerated and replanted, and the poor will be provided with strong and safer houses having floods and storms resilient design features.

Viet Nam is considered one of the 30 countries at “extreme risk” to climate change. From 1990 to 2012, disasters caused 457 deaths, destroyed more than 96,000 houses, and accumulated losses equivalent to 1.3 percent of GDP annually. More than 500,000 people live within 200 meters of the coast along the country, their homes are usually affected by typhoons and many of them live in unsafe houses. This is one of the reasons why the coastal communities are less resilient. The poverty rate in the coastal areas is 23 percent, more than twice the national average, partly due to disaster related losses.

“The need for investment to support climate change mitigation and low carbon development is urgent”, Dr. Nguyen The Phuong, Vice Minister of MPI, said. “This project will be the first step in the long-term strategic partnership with GCF. Viet Nam wishes not only to benefit from the fund but also can contribute to it as well as share lessons learned to other GCF-supported countries”.

Mr. Kamal Malhotra, UN Resident Coordinator and UNDP Resident Representative in Viet Nam, highlighted that UNDP was working with the Government on initiatives to to build resilience to extreme climate events among the rural poor, many of whom are women or come from the ethnic minority groups. He underscored UNDP’s commitment to ensure the effective implementation of this project, thus improving the resilience of vulnerable coastal communities to climate change related impacts in Viet Nam.

At the workshop, representatives from Thanh Hoa and Ca Mau provinces shared their plans to adapt and respond to climate change as well as their expectations for support from the GCF. During the cooperation dialogue, the MPI presented the Viet Nam’s strategy to access the GCF with focus on (1) strong commitments to climate change, (2) investment for climate change adaptation and green growth, and (3) strengthening GCF - Viet Nam strategic cooperation.

Courtesy calls to leaders of Viet Nam:

On the same day, H.E Howard Bamsey paid his first courtesy visits to leaders of the MPI and MARD, who presented Viet Nam’s strong commitments to the implementation of the Paris Agreement and efforts to maximize the use of the GCF’s important resources. On behalp of the MARD, Deputy Minister Hoang Van Thang awarded a medal to H.E Howard Bamsey  in recognition of his contribution to the Agriculture and Rural Development in Viet Nam.

On this occasion, Deputy Prime Minister Vu Duc Dam held a courtesy meeting with H.E Howard Bamsey. He noted: “Viet Nam wishes to become the highlight of the GCF in the region, we therefore request the GCF Secretariat, in close collaboration with the MPI and line ministries, to develop and support the implementation of the GCF - Viet Nam strategic cooperation with the commitment to supporting Viet Nam under the priority project portfolio; and to continue supporting Viet Nam in implementing the approved project and accelerating the approval of projects that the National Designated Authority of Viet Nam has submitted to the GCF. These projects focus on climate change mitigation / low carbon development in combination with climate change adaptation; private sector’s investment in renewable energy & energy efficiency; sustainable forest management; adaptation efforts in key economic regions; and building and implementing small & medium-sized financial models to support enterprises in renewing / applying low-emission technologies.

About the GCF:

The GCF was created in 2010 by the United Nations Framework Convention on Climate Change (COP16) in Cancun, Mexico, and aims to allocate its resources to low-emission and climate-resilient investment in developing countries. GCF set up 8 strategic areas in the field of (i) energy, (ii) transport, (iii) building, city, industry and equipment, (iv) LULUCF, (v) enhance the resilience and the wellbeing of vulnerable communities, people and areas, (vi) improve the quality of health and welfare, food and water protection, (vii) improve the resilience of infrastructure and environment, (viii) improve the resilience of ecosystem and eco-services. The GCF Board is comprised of 24 members with equal numbers from developing and developed countries.

To date, the GCF received total commitments to be allocated as of US$10.3 billion in which US$6.7 billion have been committed, and targets to receive US$100 billion committed by 2020 to implement the global agreement on climate change. This is a new financial mechanism established and operated (2013), however, it is expected that in the coming time the GCF will be the most important and unique financial mechanism on the basis of merging existing financial mechanisms to implement the United Nations Framework Convention on Climate Change (UNFCCC).

Website of GCF: http://www.greenclimate.fund

Contact information

Nguyen Thi Dieu Trinh

Senior Official

Dept. of Science, Education, Natural Resources and Environment

Ministry of Planning and Investment

Addr: R. 508, Block A, 6B Hoang Dieu, Ha Noi

Tel: 84-8043310 | Fax: 84-4-37475194.