Vietnam Northern Provinces Get $53M from World Bank for Urban Infrastructure

The World Bank’s Board of Executive Directors has recently financed $53 million for two emerging middle cities of Lao Cai and Phu Ly located in Vietnam’s northern provinces of Lao Cai and Ha Nam aimed at developing the urban infrastructure, the World Bank said in its press release. The money will be used to improve infrastructure services including water treatment and wastewater collection, flooding prevention in low lying areas, and transport services in areas with poor or non-existent roads or access to transport networks. The additional investment will help reduce the financing gap caused by exchange rate fluctuations and continue to support the Medium Cities Development Project (MCDP). Kicked off in 2011, the MCDP project costing $285 million has so far benefitted over 210,000 people, exceeding its initial targets. Thanks to the project, local residents can now enjoy better roadways, water and sanitation facilities, and flood prevention infrastructure, contributing to improved urban environments, World Bank Country Director for Vietnam Ousmane Dione said. (World Bank release June 13)