Friday, 23/06/2017 12:36 (GMT+7)
(CPV) - Vietnam will benefit from USD300 million in new financing that will support its efforts to improve transport connectivity in the countryside and to protect forests along eight coastal localities.
The two projects to receive financing, approved on June 22nd by the World Bank, are the Central Highlands connectivity improvement project and the forest sector modernization and coastal resilience enhancement project.
“Investing in environmentally-sustainable projects is investing in the future of Vietnam. The World Bank fully supports Vietnam’s efforts to strengthen its resilience to climate change and to serve the needs of communities and businesses. These projects are vivid examples of our new Country Partnership Framework in action, a framework that strengthens nation’s sustainability and economic development in the long term”, said Mr Ousmane Dione, the World Bank Country Director for Vietnam.
A part of National Highway 19 in Pleiku city, Gia Lai province (Photo: tintaynguyen.com)
Half of the funding will be channeled to the connectivity improvement project, which aims to upgrade 142 kilometers of National Highway 19, and strengthen safety and resilience to natural disasters. The upgraded highway is expected to serve up to 6,200 light motor vehicles per day. Meanwhile, communities in the Binh Dinh and Gia Lai provinces will benefit from easier access to markets, reduced travel time, and better road safety.
More than 900 communities spread across 257 communes in Quang Tri, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Thua Thien-Hue, Quang Ninh provinces and Hai Phong city will benefit USD150 million from the jobs created from the rehabilitation of degraded forests, the protection of existing forests, and ensuing opportunities for eco-tourism and aquaculture.
Financing is supported by the International Development Association, the World Bank's fund for low-income countries./.
ATP