Better regulation for more effective use of ODA on climate change

VGP – Việt Nam pledges to formulate an effective regulation mechanism to mobilize and make full use of foreign assistance for projects on climate change adaptation and mitigation, a high-ranking official said.

October 10, 2009 2:20 PM GMT+7

Foreign donors vows to grant the Vietnamese Government with financial support on its attempt to tackle climate change, Hà Nội, October 9, 2009 – Photo: VGP

The Ministry of Planning and Investment (MPI) on October 9 held a seminar with foreign donors to discuss key principles of mobilizing, controlling, managing and using ODA in response to climate change and as well as international cooperation in mitigating negative consequences of the challenge.

A representative of the United Nations Development Program said that Việt Nam meets adequate conditions under the United Nations Framework Convention on Climate Change to continue receiving new and additional ODA through aid and preferential credits for climate change adaptation and green house gas cuts.

Both bilateral and multinational donors are interested in financing projects on climate change in Việt Nam.

Donators stressed the necessity to control, manage and allocate ODA in a transparent and effective manner.

UNDP suggested the MPI and the Ministry of Finance manage ODA sources while the Ministry of Natural Resources and Environment (MONRE) provide technical consultancy.

MONRE Deputy Minister Nguyễn Văn Đức pledged that Việt Nam would map out a specific program to receive and absorb financial assistance for climate change adaptation and mitigation.

Through the Standing Office of the National Target Program to Respond to Climate Change, donators would collect abundant information of fields and projects in which they can assist Việt Nam, said the Deputy Minister.

Operation mechanism and organization of the Office would be completed and made public in December.

By Kim Loan