Kuwait Fund helps Thai Binh with climate change resilience

Official of the Ministry of Finance on December 19 officially inked a US$9 million loan agreement from the Kuwait Fund for a coastal infrastructure development project on climate change resilience in Thai Thuy in the northern province of Thai Binh.

Deputy Minister of Finance Tran Xuan Ha and Deputy Director-General of Kuwait Fund Hesham Al-Waqayan signed the agreement.

The coastal infrastructure development project is meaningful to the province to cope with climate change and enhance production, said Mr. Ha, adding that the province is seriously affected from climate change.

For his side, Mr. Hesham Al-Waqayan expected that the project will make contribution to improving the quality of local people's lives in the area, confirming that the fund is willing to support development projects in Viet Nam.

Kuwait Fund and Viet Nam are on discussion to sign other projects in the future, including ones in Xi Man, the northern mountainous province of Ha Giang.

Kuwait Fund has financed US$169 million for 14 projects in Viet Nam, focusing on rural infrastructure such as small transport and irrigation projects in poor provinces.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam