|Da Nang City.— Photo baodanang.vn
DA NANG (VNS)— The State Bank of Viet Nam and the World Bank agreed on Tuesday to undertake a major sustainable development project in the city of Da Nang.
Total investment in the project will reach US$272.1 million, with $202.4 million being donated by the World Bank and the remaining $69.7 million being provided from city funds.
The money will be used to improve the city's Bus Rapid Transit (BRT) network, build new roads and revamp the drainage system, with city authorities hoping to enhance their urban management capacity over the next five years.
Da Nang is Viet Nam's fourth largest city and is widely regarded as a being well-planned and well governed, with a higher quality of infrastructure than other cities in the country.
The city's chairman Van Huu Chien has announced plans to make Da Nang a ‘green' city by 2025, and this latest project is aiming to improve environmental infrastructure by investing in waste water collection and treatment, water-storm drainage and flood prevention measures. — VNS