WB to fund sustainable development in Da Nang

VGP - PM Nguyen Tan Dung has recently signed a decision to approve the negotiation outcomes and suggestion of signing an agreement with the World Bank (WB) to fund the sustainable development of the central coastal city of Da Nang.

April 25, 2013 5:35 PM GMT+7

Accordingly, Governor of the State Bank of Viet Nam (SBV) Nguyen Van Binh is authorized to sign the funding agreement and relevant documents of the project with the WB representative on behalf of the Socialist Republic of Viet Nam.

The SBV is asked to work with relevant agencies to complete the project’s conditions to realise the agreement as soon as possible.

The project comprises four components, including improving the urban environment, particularly the drainage and sewage system, developing public transportation with a focus on a Bus Rapid Transit (BRT) system, building a strategic urban transport infrastructure and enhancing the implementation capacity.

To be implemented between 2013 and 2018, it will boost sustainable socio-economic development in Da Nang city and benefit residents with improved urban facilities and living standard, contributing to reducing poverty, addressing transport and congestion problems, minimizing the environmental pollution, preventing floods and enhancing natural disaster prevention capacity.

By Ngoc Van