The disaster risk financing project kicked off in Hue city
  
Update10/11/2019 2:16:47 PM
Vice Chairman of the People's Committee of Thua Thien Hue province Nguyen Van Phuong speaks at the ceremony
Vice Chairman of the People's Committee of Thua Thien Hue province Nguyen Van Phuong speaks at the ceremony
On October 10th, the disaster risk financing project for Hue was kicked off by Asian Development Bank (ADB).

The project is sponsored by the Urban Climate Change Resilience Trust Fund (UCCRTF) which operates under the management of ADB. Its main partners are the United of Kingdom, UK Department for International Development (DFID), Swiss Government, Swiss State Secretariat of Economic Affairs (SECO) and Rockefeller - the Foundation aims at mitigating the risk of climate change and disaster on vulnerable cities.

As the project aims to ensure insurance cost efficiency, it is necessary to identify the characteristics of public assets at risk, the capacity of local insurance market, legal environment and the awareness of decision-making officials of insurance value and application.

The project consists of the four main items including mapping and analyzing valuable public assets and those at risk; the feasibility of disaster insurance in Vietnam and Hue city; designing disaster risk financial solutions to offer insurance at effective cost and in wide scope; capacity building and disseminating knowledge for decision-making officials.

Disaster risk financing for Hue" project is expected to help Thua Thien Hue province collect information regarding to public assets in the city, provide suitable disaster risk financing solutions such as insurance, credit and capital market to ensure financial resources for disaster relief, early recovery and reconstruction. Besides, the project will contribute to mitigating disaster risks for valuable public assets, ensure post-disaster recovery, mitigate the impact of disaster on local livelihood and stabilize local socio-economic situation.

thuathienhue.gov.vn
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