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This week Vice Minister of Finance Tran Xuan Ha and the Netherlands Ambassador to Vietnam Elsbeth Akkerman signed an agreement for DRIVE financing (DRIVE: Development Related Investment Infrastructure Vehicle) by the Netherlands’ Invest International, to support the Vinh Long Climate Resilience Project of the ODA-Project Management Unit of the Mekong Delta province of Vinh Long.
|The Dutch grant worth $19.5 million will be earmarked for constructing a water treatment plant in Vinh Long city|
The Dutch grant will be provided to build a water treatment plant in Vinh Long city. DRIVE contributes through its infrastructure development to the Sustainable Development Goals (SDGs) in priority sectors such as water.
The water treatment plant is one component of the wider Vinh Long City Urban Development and Enhanced Climate Resilience Project. The objective of this project is to improve access to infrastructure and connectivity and to reduce flood risk in the urban area of Vinh Long city.
The project has the following components including flood risk management and environmental sanitation; flood risk mitigation and urban drainage; wastewater collection and treatment; strategic corridors development; and resettlement area development.
The Netherlands Embassy to Vietnam strongly supports this project as it synergises with different core elements of the Strategic Partnership Agreement on Climate Change Adaptation and Water Management that was signed between the Vietnamese and Netherlands governments in 2010.
Ambassador Akkerman stated, “Vietnam and the Netherlands are both committed to achieve the SDGs and for that public and private interests often coincide. Via Invest International, the Netherlands grants $19.5 million (€16.5 million) to a project totalling $202.2 million (€ 170 million) in Vinh Long city to make the city more climate resilient and to protect its people against flood risks. The rest of the amount is covered by the World Bank and by Vinh Long province. The significant amount of Dutch grant, played a crucial role to make the project possible.”
The World Bank is helping countries to adapt and increase their capacity to weather climate shocks via projects supporting early warning systems, disaster response, civic awareness, strengthening buildings, and post-disaster recovery.
On behalf of the Netherlands government, Invest International provides a range of capital solutions for companies and investment funds whose international activities contribute to realizing the SDGs. In Vietnam, especially in the Mekong Delta, the Netherlands’ government is supporting the development of financial and investment modalities whereby public and private funds are mobilised to jointly support adaptation and build resilience in different sectors amongst which climate and energy and agro-food.