Vietnam Borrows $560M from WB for Mekong Delta Development

The State Bank of Vietnam and the World Bank (WB) on July 11 signed agreements for loans and credits worth $560 million for two projects to support urban development, climate resilience and sustainable livelihoods in the Mekong Delta, the country biggest granary, aquatic pond and fruit growing areas. Of the amount, $250 million be used for the Can Tho Urban Development and Resilience Project, to reduce flood risk and improve connectivity between Can Tho city center and the new urban areas. The project is expected to benefit more than 420,000 urban dwellers, and enhance the capacity of city authorities to manage disaster risk, said the WB in Vietnam. The remaining $310 million will be ear-marked to boost climate resilience and ensure sustainable livelihoods of 1.2 million people living in nine provinces in the Mekong Delta which are affected by climate change, salinity intrusion, coastal erosion and flooding. Recent extreme weather phenomena in the Mekong Delta, including flooding, drought and salinity intrusion, are negatively affecting the lives of people in the region, both in urban and rural areas, most of whom are poor, said Achim Fock, acting country director for the WB in the Southeast Asian nation. (Nong Thon Ngay Nay July 12)

ADB Helps Vietnam Northern Province Develop Infrastructure

The Asia Development Bank (ADB) will provide technical assistance for the northern mountainous province of Ha Giang to implement a basic infrastructure project for comprehensive development. During a working session with officials from the provincial People’s Committee on July 15, Lindsay Saunders, head of the ADB’s consultation and technical assistance group, spoke highly of Ha Giang’s potential, advantages and policies to call on investment, saying that these will help create momentum for the locality’s economic growth. He stressed the need for the local authorities to pay more attention to implementing recommendations of the group in order to complete the project’s documents soon and submit them to the ADB for approval. Chairman of the provincial People’s Committee Nguyen Van Son presented the locality’s socio-economic achievements in recent years, and highlighted great contributions of the ADB to Ha Giang’s development. Ha Giang hopes the ADB continue coordinating with ministries and sectors at the central level to effectively implement the project in the locality, he said. As part of the ADB-funded project to develop technical infrastructure in some northern localities, the Ha Giang sub-project is expected to directly bring practical benefits to local ethnic minority groups by helping the local authorities develop transport and clean water infrastructure, and promote the locality’s strength as well. Other beneficiaries of the project include Cao Bang, Bac Kan and Lang Son. (Vietnam News Agency July 16)