World Bank and SECO Help Boost Viet Nam’s Sustainable Urban Development with $5 Million Grant

HANOI, November 4, 2024-The Swiss government and the World Bank have signed an agreement to promote green and resilient growth in Viet 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 Viet 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 Viet Nam, Cambodia and Lao PDR. "The funding will deepen our engagement with Viet Nam's largest cities, particularly Ho Chi Minh City, Da Nang, and Can Tho, as they advance toward a vision of green growth."

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

"This partnership reflects Switzerland's commitment to sustainable urban development in Viet Nam", said H.E. Thomas Gass, Swiss Ambassador to Viet 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 Viet Nam. This initiative builds on previous successful collaborations, including one that established the country's first flood risk management system in Can Tho. The impact of these joint efforts extends beyond Viet Nam, shaping the World Bank's Sustainable Urban and Regional Development Program and City Resilience Program, both of which are also financed by Switzerland at the global level.