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World Bank loans $570m for key projects
The World Bank's Board of Executive Directors approved on Tuesday one loan and three credits totaling US$570 million to several development projects in Viet Nam.
The approvals include a loan of US$180 million from the International Bank for Reconstruction and Development to scale up and reinforce Viet Nam's electricity transmission system. The operation is a continuation of the Second Transmission and Distribution Project, to support efficient development of Viet Nam's electricity transmission and distribution system.
Meanwhile, the credits, to be provided by the International Development Association, include $150 million for a Hospital Waste Management Support Project, $175 million for the Hai Phong Urban Transport Project, and additional financing of $65 million for the Coastal Cities Environmental Sanitation Project.
Successful implementation of the Hospital Waste Management Support Project will strengthen healthcare waste management policies nationwide and support at least 150 central and provincial hospitals in providing better environment for their communities as well as improved infection control and occupational safety for patients, doctors and health workers, a WB press release said.
The goal of the Hai Phong Urban Transport Project is to improve urban accessibility and strengthen capacity for urban transport management and planning in northern Hai Phong Port City. The project is expected to reduce travel time for local road users in arterial corridors, and increase the reliability and frequency of bus services, the release said.
The Coastal Cities Environmental Sanitation Project will provide better sanitation for over 600,000 people in the coastal cities of Dong Hoi, Quy Nhon and Nha Trang. The investment will improve overall quality of life and ensure sustainability of the tourism base of these cities.
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