More than US$4.4 million for cutting carbon emissions
The Minister of Agriculture and Rural Development has approved a WB-funded project to prepare for the implementation of Reducing Emissions from Deforestation and Forest Degradation plus ( REDD+) programme in Vietnam.
With a budget of US$ 4.432 million, of which US$3.8 million in non-refundable investment and the rest is from the Vietnamese side, the three-year project will be undertaken in Hanoi, Quang Binh and Quang Tri provinces, and the Central Highland province of Dak Nong.
Starting this year, the project will assist the localities to find a sustainable way to manage the forest, preserve the biological diversity, develop the low-carbon economy and reduce poverty as well as joining hands with the international community to protect the global climate in the long term.
REDD+ has been discussed in international climate negotiations since 2005, with a focus on developing new policies and financial incentives to curb emissions from forests.