World Bank to help city cope with natural disasters
22/11/2016 16:21:11

On November 16th, 2016, a delegation of World Bank (WB) led by Mr. Alwaleed Alatabani, the Financial Sector’s Chief Specialist at the WB in Viet Nam paid a courtesy visit to and discussed the city of Danang’s need of financial solutions supports for response to disaster risk with the city’s authority. Mr. Tran Van Mien, Vice Chairman of Danang People’s Committee, chaired the meeting.


Mr Alwaleed Alatabani (left) and Vice Chairman Tran Van Mien.


Vice Chairman Tran Van Mien welcomed the visit. Also he expressed the appreciation for the WB’s financial packages for Danang in recent years, especially the implementation of transport infrastructure projects, which has contributed to promoting the city’s development. Mr. Mien also said Vietnam in general and Danang city in particular is predicted to be most affected by climate change and be going to suffer from big storms in the coming time. Therefore, response to climate change is an issue that city authorities are very concerned and consider as one of the top priorities. Thus, the supports of financial institutions in general and of World Bank in particular, play an important role in the city’s prevention of natural disasters. He also expressed his welcome when WB would hold high-level workshop on financial measures to reduce Danang’s disaster risk; simultaneously tasked the Department of Finance with coordinating with relevant departments and agencies to create favorable conditions for the workshop to be held successfully.


According to Mr. Alatabani Alwaleed, that Danang’s dynamics in looking for financial solutions from WB to deal with disaster risks is the best approach in order to ensure the city’s readiness for response to climate change. He also concurred with Mr. Mien’s statement that Vietnam would be hardest hit by natural disasters caused in the coming time. This is the reason why Da Nang is one of 3 Vietnamese localities which have been selected by WB to implement a pilot model of disaster risk assessments including budget risk which is aimed at better assessment about the possibility and severity of losses due to natural disasters. He also stressed, WB is pleased to cooperate with such a radical city as Danang in the implementation of this important program and WB will mobilize a lot of experts to the city to attend the workshop with the goal of sharing the findings related to this model and listen to the suggestions from the Danang to have appropriate adjustment.


Concerning Danang’s proposal on the continuation of assistance in determining the risks, ensuring the city’s budget resilience and developing a strategy to mobilize funding to be able to respond to natural disasters, the Financial Sector’s Chief Specialist at the WB in Viet Nam, said the approach of WB's expert group will be to support to develop a comprehensive strategy, which emphasizes the request of seeking innovative financial institutions beyond the framework of the budget to ensure funding for the response to the disasters.


Source: Da Nang Portal

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