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ADB finances $ 223.87 million for Green City project

ADB finances $ 223.87 million for Green City project

On July 6, the Asian Development Bank and 3 provinces of Ha Giang, Vinh Phuc and Thua Thien Hue signed a $ 223.87 million financing agreement for the Green Urban Development Project.

Eric Sidgwick, Country Director of ADB in Vietnam, said that the funding would support Ha Giang, Vinh Yen and Thua Thien Hue to integrate the unique green components of the city’s urban infrastructure. The street lighting saves energy and embankments with natural features.

ADB finances $ 223.87 million for Green City project
ADB finances $ 223.87 million for Green City project

Based on ADB’s assistance in developing Green City action plans for the three cities, the project will be geared towards combining integrated urban planning and donor coordination that will help improve the viability, adaptability and economic opportunities of cities.

According to the representative of ADB, the total investment of the project is divided into the following components: $3 million grant from the Global Environment Facility (GEF) and $ 3 million in grants from the Trust Fund Urban Climate Change (UCCRFT), supported by the Rockefeller Foundation and the governments of Switzerland and the United Kingdom.

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In addition, technical assistance is included in the $ 12.8 million project, of which $ 10.8 million will be funded by the GEF and $ 2 million from the UCCRTF.

It is expected that the project will be completed in December 2023, improving infrastructure services, benefiting 116,000 households; including 6,100 poor and near poor households.

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ADB finances $ 223.87 million for Green City project
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