Prime Minister Nguyen Tan Dung has asked the Ministry of Natural Resources and Environment to with relevant ministries and agencies to establish a national Green Climate Fund.
The Fund is aimed at facilitating future financial flow from the Global Climate Fund into Vietnam.
The Global Climate Fund was first approved at COP 16 in Cancun, Mexico, and formally established in Durban, South Africa, to channel aid to developing nations to adapt to climate change. It is expected to raise US$100 billion a year by 2020, to which all developing countries will have equal access.
Currently, development aid for climate change and the environment in Vietnam comes from the Adaptation Fund, Climate Investment Fund, Global Environment Fund and the Clean Development Mechanism.
PM Dung has subsequently called for a report on the operation of these funds and their efficiency.