The People's Committee of Thua Thien Hue province in collaboration with the Luxembourg Development Cooperation Agency organized the launching ceremony of two major projects to enhance the capacity to adapt to climate change (CC) for local authorities and people, while improving access to comprehensive finance. This is also the first time the Luxembourg Government has officially worked with a commercial bank in Vietnam, Agribank.
Delegates beat the drum to launch two projects.
At the Launching Ceremony, Mr. Thommas Lamar, Charge d'Affaires, Embassy of Luxembourg in Laos and Vietnam, highly appreciated the implementation of cooperation, especially Luxembourg's support focusing on the fields of rural areas, education, healthcare, tourism and banking, towards green growth and sustainable development. Luxembourg is committed to continuing to foster a long-standing and strong cooperative relationship with Vietnam, especially in activities to enhance resilience to climate change. After a long period of survey and preparation, Mr. Thommas Lamar happily announced that LuxDev as well as Hue are ready to officially launch two new projects, Project VIE/301 and VIE/039. Mr. Hoang Hai Minh suggested that the Department of Planning and Investment, as the Project Owner, closely coordinate with LuxDev based on lessons learned from previous projects, continue to update strategies, planning, and socio-economic development plans of Hue City for the period 2026 - 2031; initiatives, development models in the world and opinions from the community to replicate successful models. Build new projects and product value chains towards approaching domestic and international markets; Strengthening the application of circular economic models, sharing, green transformation, digital transformation to improve production and business efficiency... The representative of the People's Committee of Thua Thien Hue province said, "Project VIE/039 - Finance for resilience - Promoting climate-smart agriculture and financial access in Thua Thien - Hue province" will be implemented for 2 years from 2025 to 2026 with a budget of 2 million Euros funded by the Government of Luxembourg and the Government of Vietnam... "Project CARe Hue - VIE/301 - Adaptation and resilience to climate change in Thua Thien Hue province, Vietnam" has a total funding of 10 million USD over 5 years from 2025 to 2029. The project will replicate effective models from project VIE/039, while implementing innovative solutions in natural resource management, coastal development and ecological environment protection, contributing to enhancing resilience. climate change adaptation in vulnerable areas... However, access to finance is a major obstacle to the widespread adoption of climate change adaptation agriculture in Thua Thien Hue. The project plans to work with Agribank and local financial institutions as well as mass organizations such as the Women's Union and the Farmers' Association to improve their understanding of gender-responsive climate change adaptation models. The main objective is to improve financial and business management of rural households, promote responsible use of financial products and develop appropriate lending practices for investment in climate change adaptation agriculture. Mr. Manuel Tonnar, General Director of LuxDev - Luxembourg Development Cooperation shared: Projects VIE/039 and VIE/301 mark LuxDev's first collaboration with a private partner - a commercial bank. Agribank plays a dual role in these two projects, not only as a beneficiary receiving technical support from the project but also as a financial service provider, implementing and disbursing loan packages suitable for each value chain for the project's target beneficiaries.
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