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Vietnam agrees to World Bank deal to stop forest loss

Carbon Fund to pay out $52m if Southeast Asian nation can keep trees in ground

A worker scrapes rubber latex in Huong Tra village, south of Hanoi. By keeping its forests intact, Vietnam might be able to sell emission offsets to other countries.   © Reuters

HO CHI MINH CITY -- Vietnam is set to receive tens of millions of dollars to help it keep a promise not to cut down trees, part of a controversial World Bank program that critics say does not produce its intended effect -- carbon emission reductions.

The Southeast Asian nation has signed a contract that calls on the World Bank to pay out $51.5 million if Vietnam makes good on multiple pledges to protect its forests. It is the first Asian country to make such a deal.

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