World Bank to fund Mekong Delta urban upgrade

The World Bank will provide official development assistance worth US$446 million to Vietnam to upgrade infrastructure in six urban areas in the Mekong Delta, the bank has informed the Ministry of Construction.

The six cities and towns, which were chosen by the ministry, are Can Tho, My Tho, Ca Mau, Cao Lanh, Rach Gia, and Tra Vinh.

Local governments will being in matching funds of around $154 million earmarked for the National Urban Upgrading Strategy through 2020 that seeks to improve the living conditions of people in urban areas in the region.

The World Bank-assisted project will be pre-assessed in December and fully assessed six month later.

Lending agreements with sponsors are expected to be signed in September 2011, while the project will be approved three months later so that it can start by January 2012.

vietnews, TBKTSG

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