Vietnam: World Bank Approves $72.52 million Additional Financing to Improve Infrastructure Facilities in Da Nang

Washington, May 26, 2017 –The World Bank’s Board of Executive Directors approved today US$ 72.52 million in additional financing from the IDA Scale-Up Facility to support investments in infrastructure in Da Nang, an emerging city in central Vietnam.  “The pace of infrastructure investment in cities – including those for transport and sanitation services – must match the pace of economic growth,” said Ousmane Dione, the World Bank Country Director for Vietnam. “Strengthening integrated investments in infrastructure in growing metropolitan centers like Da Nang is crucial in sustaining the engine of inclusive growth for Vietnam.”  As the fourth largest city in Vietnam, Da Nang is widely viewed as well-planned and well-governed, with a strong commitment to becoming a ‘green city’ by the year 2025. The additional financing aims to support the scaling up of the Da Nang Sustainable City Development Project, by helping develop a separate sewer/house connection system – and hence minimize pollution risks – for coastal tourism area of My An–My Khe. Transport services are also targeted for improvement, through the establishment of an integrated fare system and intelligent transport system (ITS) for the city public transport including the Bus Rapid Transit system. Another component of the additional financing will focus on upgrading the road from Hoa Nhon to the Hoa Son area of Da Nang city, so that local traffic will be diverted from the Da Nang – Quang Ngai and Da Nang Bypass Expressways. The additional financing will come from IDA, the World Bank’s financial resources for low income countries.   For more information, please visit: http://ift.tt/2ozWkJ2: http://ift.tt/2qMTZID  Twitter: http://www.twitter.com/wb_asiapacificYouTube: http://www.youtube.com/worldbank

from World Bank Search – NEWS http://ift.tt/2sch1JE

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