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VIETNAM - Launch of innovative climate resilience and financial inclusion projects
LuxDev is pleased to announce the launch of two innovative finance projects with a total combined budget of more than USD 12 million, aimed at enhancing climate resilience and advancing financial inclusion, marking a significant step towards sustainable development in Thua Thien Hue Province.
The launch event was attended by high-level representatives of Vietnam Ministries, Thua Thien Hue Provincial People’s Committee, the Luxembourg Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade, LuxDev, provincial and district governments, international organisations and private sector partners. This gathering underscored the collaborative nature of these two projects, and the impact that sustainable, green and climate finance can have.
Project VIE/301 - Climate adaptation and resilience in Thua Thien Hue Province: Running from 2025 to 2029 with a budget of USD 10 million, this project is co-funded by the Green Climate Fund (USD 8,650,000), the Government of Luxembourg and its Ministry of the Environment, Climate and Biodiversity (USD 900,000) and the Government of Vietnam (USD 450,000). Key goals include establishing robust early warning systems, integrating climate adaptation into local development plans, restoring coastal forests, and enhancing climate-resilient value chains and financial mechanisms. The initiative aims to prepare local communities for climate hazards and promote sustainable environmental practices.
Project VIE/039 - Finance for resilience - Fostering climate-smart agriculture and financial Inclusion in Thua Thien Hue: Scheduled for 2025 to 2026 with a budget of EUR 2 million, this project, funded by the Government of Luxembourg and its Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade, and the Government of Vietnam, focuses on empowering smallholder farmers, especially women, by promoting climate-smart agriculture, improving market access, providing tailored financial products, and fostering partnerships with public and private sectors. By partnering with Agribank, the project will enhance capacity in climate-smart finance and support inclusive economic growth.
Strategic alignment: Both projects are strategically aligned to maximise impact. Project VIE/301’s climate information services and ecosystem restoration enhance biodiversity and agricultural environments, which VIE/039 uses to advocate for sustainable farming and resilient business models. These initiatives thus represent a significant investment in the future of Thua Thien Hue Province, addressing urgent climate challenges and empowering smallholder farmers, particularly women, to build greater resilience and improve their livelihoods.
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