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SOCIALIST REPUBLIC OF VIETNAM: FIRST CLIMATE CHANGE DEVELOPMENT
                      POLICY OPERATION (DPO)

                               SUMMARY OF DISCUSSION


                                Meeting of Executive Directors

                                          February 2, 2012


        Executive Directors approved the First Climate Change Development Policy Operation
for the Socialist Republic of Vietnam in the amount of US$70 million on the payment terms and
conditions set out in the President’s Memorandum (IDA/R2012-0005).

        Directors expressed support for the DPO and its objectives noting the importance of
promoting both climate resilient and low carbon intensity development. They welcomed the
focus on a reform agenda that would bring short to longer term climate and development co-
benefits and improve inter-sectoral coordination and dialogue. Directors encouraged the
Government to continue policy and institutional reforms in the context of the broader Support
Program to Respond to Climate Change beyond this first operation. They also underlined the
synergies between the DPO, the Bank’s Environment Strategy, and other investment operations
in the country.

       Directors further highlighted the importance of the private sector and IFC, and urged
continued coordination and harmonization among donors.





This summary is not an approved record.