WB Cancels $10M Funding for Sustainable Envir Project in Vietnam Nha Trang

The World Bank (WB) has canceled its $10-million funding for two investment contracts under a sustainable environmental project in Khanh Hoa province’s Nha Trang City, part of the Coastal Cities Sustainable Environment Project (CCSEP) funded by the WB, state media reported.

The two components consist of building dykes along the Cai River and a road in the Ponagar Tower area.

The withdrawal was due to a failure to compensate residents whose land was affected following the WB’s resettlement policy framework. The WB found that 76 impacted households received compensation, but 50 of them received compensation below the stipulated level in the framework.

The organization also noted that the sub-project, especially work on the component, would lag behind schedule by June 30, 2024.

On December 24, the People’s Committee of Khanh Hoa province sent a dispatch to WB Country Director for Vietnam Carolyn Turk to propose using the province’s budget to finance the component of the sub-project instead of the WB funding. The province affirmed that it can finance the component to proceed with the sub-project.

(Tuoi Tre, Lao Dong, Dan Tri, Sputnik Vietnamese, moitruong.net.vn, Lao Dong 1, PLO)