The World Bank (WB) in Việt Nam yesterday announced that it has recently approved a US$300 million fund to support Việt Nam in enhancing transport connectivity in countryside and forest protection in eight coastal localities.– Photo vov.vn
HÀ NỘI – The World Bank (WB) in Việt Nam yesterday announced that it has recently approved a US$300 million fund to support Việt Nam in enhancing transport connectivity in countryside and forest protection in eight coastal localities.
Two projects to receive financing include the Central Highlands Connectivity Improvement Project and the Forest Sector Modernisation and Coastal Resilience Enhancement Project.
Half of the funding ($150 million) will be spent to the connectivity improvement project, which is designed to upgrade 142 kilometres of National Highway 19 and strengthen transport safety and resilience to national disasters.
Once the project is finished, communities in Bình Định and Gia Lai provinces will benefit from easier access to markets, reduced commuting time and better road safety. The upgraded highway is expected to serve up to 6,200 light motor vehicles per day.
The other half of the financing will support the management of coastal forests in Quảng Trị, Thanh Hóa, Nghệ An, Hà Tĩnh, Quảng Bình, Thừa Thiên-Huế, Quảng Ninh provinces and Hải Phòng city.
The project is hoped to create jobs for residents in more than 900 communities across 257 communes in eight benefiting localities while offering opportunities for ecotourism and aquaculture development.
Investing in environmentally-sustainable projects is investing in the future of Việt Nam, said Ousmane Dione, the WB Country Director for Việt Nam, adding that the WB fully supports Việt Nam’s efforts to strengthen its resilience to climate change and to serve the needs of communities and businesses.
The projects are the most vivid examples of implementing the WB’s Country Partnership Framework that strengthens Vietnam’s sustainability and economic development in the long term, he noted. –VNS