US$3.9 million reserved for green growth strategy in Vietnam

Prime Minister Nguyen Tan Dung has approved a project supporting building institutional reforms towards green growth and sustainable development in Vietnam at a total budget of US$4.1 million.

Green growth is an important goal in the national and global development tendency of green production, environmental protection and energy conservation.

Of the budget, US$3.9 million was financed by the US Agency for International Development, the United Nations Development Programme and the European Union in the form of non-refundable ODA, and US$228,000 counterpart funding covered by the Vietnamese Government.

The project is managed by Vietnam’s Ministry of Planning and Investment (MPI) and the agency is responsible to implement the scheme in Hanoi and other selected provinces within four years.

It aims to strengthen the MPI’s capacity in guiding, monitoring, verifying and reporting the implementation of Vietnam’s Green Growth Strategy, as well as strengthening co-ordination between Vietnamese agencies with international organisations and partners.

The scheme also targets improving the technical capacity for Ministries of Planning and Investment, Finance, and Transport, as well as the project targeted localities to integrate green growth in the process of policy planning and budgeting at sectorial and provincial levels.

It is expected to raise knowledge and awareness of policy makers and businesses about green growth and sustainable development, as well as analyse financial and fiscal policies and other barriers to investment in green growth, and to support policy dialogues on green growth research results.

(Source: nhandan.org.vn)