World Bank approves over US$194 million to improve Vietnamese cities

Wednesday, 2019-06-12 16:11:54
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Hai Duong is one of the four cities and towns to benefit from the World Bank's project (Photo: Hai Duong Portal)
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NDO - The World Bank has approved a US$194.36 million credit to help four cities and towns in Vietnam to build critically-needed infrastructure and strengthen urban planning.

The funding is part of the Dynamic Cities Integrated Development Project, which aims to increase access to better urban services in four urban centres in Vietnam.

It is estimated that 200,000 residents in Ky Anh (Ha Tinh province), Tinh Gia (Thanh Hoa province), Hai Duong (Hai Duong province) and Yen Bai (Yen Bai province) will benefit from the project.

The project will help reduce flood risks, improve sanitation, reduce travel times on new and improved roads, and develop high-quality public spaces.

Connectivity to industrial parks, export processing zones, commercial establishments and tourist attractions will also be improved.

These improvements in turn are expected to help boost productivity, enable exporting opportunities, create more jobs, and help generate sustained economic growth.

According to the World Bank’s chief in Vietnam, Ousmane Dione, these four selected cities and towns have demonstrated significant potential to become dynamic economic hubs at provincial and regional levels.

The total cost of the project is US$276.17 million, of which US$194.36 million comes from International Development Association.