The Mekong Delta is Vietnam's rice basket. (Photo: Phuong Ha/Thanh Nien)
The World Bank
(WB) has approved a $310 million loan to help Vietnam build climate resilience and ensure sustainable livelihoods of 1.2 million people living in nine Mekong Delta provinces affected by climate change, salinity intrusion, coastal erosion, and flooding.
The approved Mekong Delta Integrated Climate Resilience and Sustainable Livelihoods Project supports better climate-smart planning and improved climate resilience of land and water management practices.
The estimated total cost for the project is $387 million. The International Development Association (IDA), the WB’s fund for the poorest country, is financing $310 million, the bank said in a press release.
“We believe this innovative project brings together an effective multi-sectorial model to help farmers adapt agriculture and aquaculture livelihoods to the impacts of climate change,” said Achim Fock, acting country director for the WB in Vietnam.
The agriculture sector, particularly in the Mekong Delta, has contributed significantly to the development of Vietnam, as well as to regional food security.
Vietnam’s annual rice exports of $4 billion account for more than one-fifth of the global total. The Mekong Delta alone contributes half of Vietnam’s rice, 70% of its aquaculture products, and one-third of Vietnam’s gross domestic product.