Hanoi (VNA) - Deputy Minister of Finance Tran Xuan Ha and Dutch Ambassador to Vietnam Elsbeth Akkerman have signed an agreement for Development Related Investment Infrastructure Vehicle (DRIVE) funded by the Netherlands Invest International, to support the Vinh Long Climate Resilience Project, the Vietnam Government Portal (VGP) reported.
Under the agreement, the Netherlands grants 19.5 million USD (EUR 16.5 million) to the aforesaid project totaling 202.2 million USD (EUR 170 million) in Vinh Long city to make the city more climate resilient and to protect its people against flood risks, she said.
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, added Akkerman.
The Dutch grant will be provided to build a water treatment plant in Vinh Long city in the Mekong Delta province of Vinh Long.
The water treatment plant is a 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: flood risk management and environmental sanitation; flood risk mitigation and urban drainage; wastewater collection and treatment; strategic corridors development; and resettlement area development.
The Embassy of the Netherlands strongly supports this project as it synergizes with different core elements of the Strategic Partnership Agreement on Climate Change Adaptation and Water Management that was signed between the Vietnamese and Netherlands government in 2010.
Vietnam and the Netherlands are both committed to achieve the Sustainable Development Goals (SDGs) and for that public and private interests often coincide, highlighted Ambassador Akkerman./.