The Ministry of Finance, in collaboration with the French Development Agency (AFD), has sealed a groundbreaking agreement to inject €72.3 million ($80 million) into two vital climate change initiatives in Vietnam's Central region.

The financing is earmarked for two critical projects: "Erosion Control and Sustainable Coastal Protection in Hoi An, Quang Nam Province" and "Urban Development Project along the Central Coast towards Green Growth and Climate Change Adaptation in Dong Ha City, Quang Tri Province." These ventures received formal approval from the Vietnamese Government on December 29, 2023.

Deputy Minister Vo Thanh Hung hailed the support from the French Government and the European Union, emphasizing the strategic importance of these projects in Vietnam's socio-economic fabric. He underscored AFD's status as Vietnam's largest bilateral donor in the European region and lauded the EU's grant aid, aimed at bolstering project effectiveness and local capacity in climate change adaptation.

Mr. Peteris Ustubs, representing the European Union, highlighted the significance of investments under the EU-funded Water and Natural Resources Management Facility (WARM), emphasizing their dual impact on local resilience and global climate mitigation efforts.

H.E. Oliver Brochet, French Ambassador to Vietnam, reaffirmed France's commitment to Vietnam's climate priorities through AFD-backed projects. These endeavors aim to fortify coastal resilience in Quang Nam province and bolster infrastructure in Quang Tri province, fostering economic development while ensuring sustainable living conditions.

In Quang Nam, the focus lies on enhancing coastal protection and beach restoration, employing a hybrid approach combining hard infrastructure like submerged breakwaters with soft solutions like sacrificial beach nourishment. Meanwhile, the project in Quang Tri aims to modernize Dong Ha City's infrastructure, aligning with Quang Tri's strategic vision for urban development.

These initiatives represent a significant stride in Vietnam's climate resilience efforts, leveraging international partnerships and innovative solutions to safeguard vulnerable regions while fostering sustainable growth.