Vietnam Seeks WB Funds for 7 Transport Infrastructure Projects

The Vietnamese Ministry of Transport has issued a list of seven transport infrastructure projects to seek loans from the World Bank (WB), the Dau tu newspaper reported April 20. The projects include upgrading and maintaining national road network which is estimated to cost $300 million, $280-million coastal road development in Mekong Delta project and expansion of a section on National Highway No.1 worth $126 million.  Others are expressways of $1.6-billion Danang-Quang Ngai, $1.3-billion Thanh Hoa-Bai Vot and $870-million Dau Giay-Phan Thiet and a technical support worth $25 million for Thanh Hoa-Bai Vot expressway. Vietnam is in dire need of capital for developing infrastructure projects nationwide. The country needs $16 billion for infrastructure transport projects a year; however, it can afford half of that figure. The WB, which is among the biggest donors for Vietnam, has pledged around $2.6 billion in official development assistance (ODA) for Vietnam this year and also announced to finance over $6 billion for the country in the 2011-2013 fiscal years. (Dau tu – Investment Apr 20 p2)