WB to Lend $292M for Urban Upgrading Project in Vietnam

The World Bank (WB) will provide $292 million in loans for a $600-million project to upgrade urban areas in Vietnam’s Mekong Delta region, the Lao Dong newspaper reported Nov 1. The project will upgrade the infrastructure in six Mekong Delta cities of Can Tho, My Tho, Ca Mau, Tra Vinh, Cao Lanh and Rach Gia, including their water supply and sewage systems, street lights and sanitary projects.
Within the project, more than 12,000 households will enjoy loans to upgrade their houses. Activities will be held to improve housing and land management as well as urban planning capacity for the local authorities. The project scheduled to start in January, 2012, is under the National Urban Upgrading Strategy (NUUS) by 2020 approved by the prime minister, aiming to improve the living conditions of the local residents. The WB has funded $10.4 billion in soft loans for 93 programs and projects in Vietnam since 1993. The bank pledged $2.498 billion in official development assistance (ODA) for the country this year. (Lao dong – Labor Nov 01 p3)