WB ratifies US$315 mln credit for VN

Illustration photo

Of the figure, US$236 million, including US$190 million from the International Development Association (IDA) and US$46 million from the International Bank for Reconstruction and Development (IBRD) will be used for Viet Nam Coastal Cities Sustainable Environment Project.  

The project is expected to benefit around 1.1 million residents in such areas as Dong Hoi, Quy Nhon, NhaTrang, and Phan Rang – Thap Cham.

It will focus on flood reduction, drainage, wastewater treatment plants, school sanitation and public toilets as well as improve priority roads and bridges along canals, drains, and rivers, thereby strengthening connectivity and relieving traffic pressure. 

The remaining US$78.74 million is an IDA credit for the Northern Delta Transport Development Project. 

It aims to construct 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. 

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.

By Thuy Dung