Ever-biggest infrastructure project inked for Đà Nẵng
17:36 | 28/08/2008
VGP - The State Bank of Việt Nam (SBV) and the World Bank (WB), today, August 28, signed a financing agreement and legal documents for the Đà Nẵng Priority Infrastructure Investment Project. The US $218-million project is expected to benefit 500,000 people.

SBV Governor Nguyễn Văn Giàu and Acting WB Country Director in Việt Nam Martin Rama pen the Agreement

Photo: VGP

According to SBV Governor Nguyễn Văn Giàu, when the project is put into operation, the central city of Đà Nẵng will improve its infrastructure and environment, set up strategic routes in some selected areas, and consolidate its institutions for investment planning and urban service management in order to improve the efficiency and sustainability of these services.

The project will be carried out for five years, from 2008 to 2013, with four items: urban upgrading, urban infrastructure, urban traffic routes and bridges, institutional consolidation.

Under the project, a 5.1-km belt road to the south of the city will be built and linked to National Highway 1A, converting about 3,500 ha of suburban lands into an important zone in the economic and tourist development of Đà Nẵng.

WB pledged to finance US $152 million. The corresponding capital of US $66 million will be allocated from the central budget. Mr. Martin Rama, acting WB Country Director in Việt Nam, stated that the project will help improve the living quality of local people. This is also an evidence of the solid relationship between WB and Đà Nẵng, one of the fastest-growing cities in Việt Nam, he added.

At the signing ceremony, Chairman of the Đà Nẵng People’s Committee Trần Văn Minh confirmed that this is the ever-biggest infrastructure project which will be put into success by the city.

By Xuân Hoàng

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