Germany pledged to support Vietnam with $170 million over the next two years to implement a sustainable development model and promote environmental protection.
The German Embassy announced this information through a press release posted on Facebook on July 30, 2021. Accordingly, the German Federal Ministry for Economic Cooperation and Development said it would provide 113.5 million euros (equivalent to $134. 7 million) to help Vietnam “take on more global responsibility.” After two years, in the next funding phase, the Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety will provide €30 million ($35.6 million) under the National Climate Initiative and finance biodiversity and climate projects in Vietnam.
The commitment was made after the German-Vietnamese talks on development cooperation between the two countries took place online on July 20-23, 2021. This is Germany’s first negotiation with Vietnam after The Southeast Asian country has been newly ranked as a “Global Partner Country” within the framework of the German Federal Government’s new strategy for development cooperation.