The World Bank (WB) will provide a $210-million loan for a $276-million urban development in the three Vietnamese cities, the Ministry of Planning and Investment (MPI) said. The cities are Lao Cai and Phu Ly in the northern provinces of Lao Cai and Ha Nam and Vinh in the central province of Nghe An, the Voice of Vietnam Radio reported last July 23, citing the MPI. The MPI added that this is the first WB-funded project for Vietnamese medium-sized cities, noting that its remaining capital will be from the provincial reciprocal capital. The bank has committed to fund over $6 billion in loans to Vietnam to implement 44 programs and projects in the 2011-2013 fiscal years, including $3.2 billion sourced rom the International Development Association. The WB has financed $10.4 billion in soft loans for 93 programs and projects in Vietnam since 1993. It pledged $2.498 billion in official development assistance (ODA) for the Southeast Asian nation this year.
