09:35 | 08/05/2017 Economy- Society
The World Bank’s Board of Executive Directors has approved 315 million USD in financing to improve water transport infrastructure and sanitation and transport services in Vietnam.
|Illustrative photo (Source: baodautu)|
Of the total sum, 236 million USD will be directed to the Vietnam Coastal Cities Sustainable Environment Project, which is expected to benefit around 1.1 million residents in the target central areas of Dong Hoi, Quy Nhon, Nha Trang, and Phan Rang – Thap Cham.
The investment, of which 190 million USD were from the International Development Association (IDA) and 46 million USD from the International Bank for Reconstruction and Development (IBRD), will focus on flood reduction, drainage, wastewater treatment plants, school sanitation and public toilets, among other work.
The project will also improve priority roads and bridges along canals, drains, and rivers, thereby strengthening connectivity and relieving traffic pressure.
The remaining 78.74 million USD is an IDA credit for the Northern Delta Transport Development Project.
It will finance the construction of a canal linking the Day and Ninh Co rivers with a navigational lock to improve freight vessel access to Ninh Phuc port, the main inland waterway port in Ninh Binh province.
Construction of the canal is expected to facilitate economic activity by reducing logistics costs, and to mitigate the risks of climate change by reducing the emission of greenhouse gases incurred in freight transportation.
Together with other inland waterway infrastructures already financed under the project, the Day-Ninh Co canal will complete a through-corridor for seagoing vessels between the estuary of the Ninh Co River and Ninh Phuc port. This will enable round-the-clock waterway access to vessels up to 3,000 tonnes in capacity.
World Bank Country Director for Vietnam Ousmane Dione stressed that an integrated approach to the development of transport, water, and sanitation services is vital to sustained growth in Vietnam.
“As highlighted in the Vietnam 2035 report, we are strongly committed to the partnership with Vietnam to deliver solutions efficiently and effectively,” he said.