The Swiss government and the World Bank (WB) recently signed a cooperation agreement to promote green and sustainable growth in Viet Nam's major cities by establishing a $5 million trust fund.
Through the $5 million Trust Fund for Green Growth and Urban Adaptation in Viet Nam's Major Cities, funded by the Swiss State Secretariat for Economic Affairs (SECO), Switzerland and the World Bank aim to strengthen their partnership in sustainable urban development in Viet Nam. This trust fund will support the sustainable development of large metropolitan areas while helping them manage growing risks and minimize climate change impacts.
As part of the program, the World Bank will develop a knowledge platform drawing from international best practices in technical and operational areas, adapted to local contexts, to propose strategic solutions to urban challenges. The program will also enhance policy-making capacity and support cities and central agencies in mobilizing and diversifying investment sources while fostering cooperation and knowledge-sharing.
This funding allows the World Bank to continue supporting dialogues that integrate sustainable practices into urban planning and economic policies of cities, developing a climate-adaptive, low-carbon urban development model.
"We will increase support for Viet Nam's largest cities like Ho Chi Minh City, Da Nang, and Can Tho in pursuing a green growth vision," said Mariam J. Sherman, the World Bank Country Director in Viet Nam.
"By combining Swiss funding with the World Bank's expertise, we hope to help Vietnamese cities achieve their green growth goals and enhance resilience to climate challenges," stated Thomas Gass, the Swiss Ambassador to Viet Nam.
This initiative builds on previous successful collaborations, including establishing Viet Nam's first flood risk management system in Can Tho.