WB-funded water project gets additional capital

18:33 | 31/07/2015 Economy

Deputy PM Hoang Trung Hai has approved an additional US$20 million sum borrowed from the World Bank (WB)’s International Development Association (IDA) to implement a WB-funded project on urban water supply and drainage- first phase.

WB-funded water project gets additional capital

Deputy PM Hai asked the Ministry of Planning and Investment (MPI) to work with the Ministry of Construction (MOC) and relevant agencies in coordination with the WB in allocating capital for the project’s components if there are any changes with earlier approved plans.

The State Bank of Viet Nam was assigned to work with the MOC and the WB on receiving the added capital.

The project’s first phase comprises two components. The first includes 14 sub-projects on building water supply and drainage systems in Quang Ninh, Binh Binh, Nghe An, Thanh Hoa, Quang Tri, Quang Nam, Kien Giang, Lam Dong, Dinh Duong and Binh Phuoc provinces. The second on technical support will be implemented by the MPI and the MOC.

The project’s total investment is US$236.2 million, including US$200 million funded by the IDA and US$36.2 million of counterpart capital. It has been underway since 2011 and is scheduled to be finished in 2016.

Up to now, 57.4% of the project has been completed and the disbursement reached 45%. The project is expected to be on schedule as committed to the WB./.

Source: VGP


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