Innovative financing for building community resilience to climate change in coastal Viet Nam
As of: May 2021
The project aimed to increase the ability of the vulnerable coastal population in selected communities of Viet Nam to adapt to the effects of climate change, thus reducing their vulnerability and poverty. It addressed this issue on three levels: by raising awareness among, providing information to and training affected and responsible actors to enable them to plan and implement measures for adapting to climate change. It was supporting the improved management of natural resources (especially in agriculture and aquaculture) as well as coastal forests and mangroves. The project was also developing a weather insurance model for agricultural and aquacultural products to provide protection against damages from extreme weather events, and was introducing it to the market. This weather insurance model, which was developed especially for the poor, rural sections of the population, enables them to insure themselves in certain areas against the extreme effects of climate change.
State of implementation/results
- Project completed
- Climate change-related risk analyses carried out in five communities and plans for adaptation to climate change prepared
- More than 2,000 households educated in improved resource management technologies; concrete measures for improving rural production implemented (e.g. building and rehabilitating irrigation infrastructure)
- Insurance product AgriCBI (community-based insurance) for insuring rice production against extreme weather events developed together with public authorities and insurance companies; about to be introduced to the market