World Bank, Switzerland provide Việt Nam $5m to help Việt Nam’s sustainable urban development

Swiss Ambassador to Việt Nam, H.E. Thomas Gass, and World Bank Country Director for Việt Nam, Cambodia and Lao PDR, Mariam J. Sherman, at the signing ceremony of the Việt Nam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund. — Photo courtesy of the World Bank

HÀ NỘI — The Swiss Government and the World Bank have signed an agreement to promote green and resilient growth in Việt Nam’s major cities.

The US$5 million grant initiative, financed by the Swiss State Secretariat for Economic Affairs (SECO), also aims to strengthen the ongoing partnership between Switzerland and the World Bank in advancing sustainable urban development in Việt Nam.

“This grant enables us to support continued dialogue to integrate sustainable practices within the city’s urban planning and economic policies, building a model for climate-resilient, and low-carbon urban development,” said Mariam J. Sherman, World Bank Country Director for Việt Nam, Cambodia and Laos.

“The funding will deepen our engagement with Viêtt Nam’s largest cities, particularly HCM City, Đà Nẵng and Cần Thơ, as they advance toward a vision of green growth.”

The Việt Nam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund aims to help large Vietnamese cities grow more sustainably while managing the increasing risks and mitigating the future impacts of climate change.

Under this programme, the World Bank will develop a knowledge base of technical and operational best practices, drawing on international expertise adapted to the local context, to provide strategic solutions for urban challenges.

The programme will also strengthen policy-making capacity and support cities and national agencies in mobilising and diversifying financial resources for investment projects while promoting collaboration and knowledge sharing.

“This partnership reflects Switzerland’s commitment to sustainable urban development in Việt Nam,” said H.E. Thomas Gass, Swiss Ambassador to Việt Nam.

“By combining Swiss financing with World Bank knowledge, we aim to help Vietnamese cities achieve their green growth objectives while building resilience against climate challenges.”

Switzerland and the World Bank have been long-term strategic partners in supporting urban development in Việt Nam.

This initiative builds on previous successful collaborations, including one that established the country’s first flood risk management system in Cần Thơ.

The impact of these joint efforts extends beyond Việt Nam, shaping the World Bank’s Sustainable Urban and Regional Development Programme and City Resilience Programme, both of which are also financed by Switzerland at the global level. — VNS