GCF funds climate adaptation project in Hue City

Hue City launched the VIE/301 Project "Climate Adaptation and Resilience Finance," funded by the Green Climate Fund (GCF) and the Luxembourg Government.

The project is implemented through the Luxembourg Development Cooperation Agency (LuxDev), focusing on ecosystem-based solutions, improving early warning systems, and promoting financial models that support the development of climate-resilient agricultural value chains. It has a total budget of $10 million and a 5-year implementation period from 2025 to 2029.

The project adopts a flexible approach, not solely focusing on new planting but also including natural regeneration, forest enrichment and degraded forest restoration. It enhances the self-production capacity of native tree species that are highly adaptable to the climate and coastal sand dune topography. Notably, it aims to develop markets and value chains with the participation of businesses and cooperatives at the forefront of the chains.

During a working session with the Luxembourg Development Cooperation Agency (LuxDev), the Hue City People's Committee agreed to adjust the list of implementing partners, shifting from an administrative coordination mechanism to a specialized technical coordination mechanism.

Based on the project's baseline assessment results, several issues were further supplemented, such as the institutional context, climate risks and local practical conditions. It particularly noted the requirement to strictly comply with environmental and social standards, alongside gender mainstreaming and a grievance redress mechanism.

It is expected that once officially approved by the Green Climate Fund, the project will prioritize implementing tasks related to the early warning system, data platform, and pilot models in its first year. Locally, Hue City is committed to continually creating favorable conditions and closely coordinating with partners during the project's implementation, ensuring activities are carried out effectively, on schedule and in line with reality.

Hong Ngoc