Environment

ADB helps Thua Thien-Hue mitigate risks of natural disasters

The Asian Development Bank (ADB) on October 10 launched a project to help mitigate risks of natural disasters in Hue imperial city, the central province of Thua Thien-Hue.
ADB helps Thua Thien-Hue mitigate risks of natural disasters ảnh 1Flood in the central region of Vietnam (Illustrative image. Source: VNA)

Thua Thien-Hue (VNA) – The AsianDevelopment Bank (ADB) on October 10 launched a project to help mitigate risksof natural disasters in Hue imperial city, the central province of ThuaThien-Hue.

The project has a total investment of 2 millionUSD sourced from the Urban Climate Change Resilience Trust Fund (UCCRTF)managed by the ADB.

Hue city will be provided with technicalassistance and disaster insurance for some public properties according to law.

The project, which will be carried outthroughout 2024, includes the collection of public property database and designof appropriate insurance solutions.

Such activities are hoped to back thedevelopment of a comprehensive disaster risk management strategy for the city.

Vice Chairman of the provincial People’sCommittee Nguyen Van Phuong said ADB is one of the leading units in supportingThua Thien-Hue to minimise natural disaster risks in recent years.

He mentioned other assistance projects of thebank such as biodiversity conservation, climate change adaptation andsustainable forest management, and green urban development.

Thomas W.Kessler, Principal Disaster RiskInsurance & Finance Specialist at the bank, said disaster risks in Vietnamare estimated to cause direct losses of averagely 1.4 billion USD every year.

The project not only aims to design a specificinsurance solution to Hue city but also considers the feasibility of expandingthe project to other cities and provinces across Vietnam, he added.

It is part of the green secondary citiesdevelopment project worth 12.8 million USD sourced from the Special ClimateChange Fund, the UCCRTF, and the Global Environment Fund and carried out inHue, Vinh Yen city (Vinh Phuc province) and Ha Giang city (Ha Giangprovince)./.


VNA
#Asian Development Bank (ADB)#project#mitigate risks#natural disasters#Hue imperial city#Urban Climate Change Resilience Trust Fund (UCCRTF)#insurance solutions#public properties#Special Climate Change Fund#Global Environment Fund#Vietnamplus#Vietnam News Agency
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