World Bank Supports Improved Transport, Sanitation and Preschool Facilities in Vietnamese City of Thai Nguyen

Stocks and Financial Services Press Releases Tuesday June 26, 2018 09:23
กรุงเทพฯ--26 มิ.ย.--World Bank

Hanoi, June 23, 2018—The World Bank's Board of Executive Directors yesterday approved an International Development Association (IDA)* Credit in the amount of US$80 million to improve the quality of key urban infrastructure, including transport connectivity, drainage and sewer systems, public spaces and preschools in Thai Nguyen City, in North East Vietnam. The funding will also support improvements in the city's urban planning and management, including climate change and disaster risk considerations.

The Dynamic City Integrated Development Project will directly benefit more than 81,000 residents of Thai Nguyen City by reducing travel time through improved transport connectivity; and enhancing urban environmental sanitation through improved drainage and sewer system, particularly in flood-prone areas. The project will also improve child care services through new and rehabilitated kindergartens and quality of life though improved public spaces. The project will help Thai Nguyen city improve local authorities' capacity by providing technical assistance for integrated strategic urban planning, public transport planning and sustainable asset management.

"As one of the key centers and economic engines of the Northern Mountainous Region, Thai Nguyen City is undergoing rapid urbanization, and thus urgently needs improved urban infrastructure services," said the World Bank Country Director to Vietnam, Ousmane Dione. "The proposed project is expected to not only support the city in improving basic infrastructure but also help the city to develop a comprehensive and integrated urban plan that links physical development to overall improvements to socio-economic conditions. The successful implementation of this project may be replicated to other medium cities in support of the Government's urban development agenda."

The Vietnam National Urban Development Master Plan envisages the development of secondary cities as hubs to drive development within larger urban areas and provinces. This is consistent with international experience, where there is growing recognition of the role of secondary cities as catalysts for economic activity and development.

Thai Nguyen City is one of the cities proposed by the Government of Vietnam to receive support based on their economic growth potential. The Project is consistent with the World Bank's Country Partnership Framework as it will contribute to strengthening urban planning and management, support resilient urban infrastructure investments, and improve disaster risk management.

The total project costs are estimated at US$100 million, of which US$80 million will be financed by the Transitional Support Window of IDA and US$20 million will be counterpart funding from the provincial government.


Latest Press Release

Photo Release: KBank joins hands with partners to create K PARK, a new form of lifestyle space for suburban communities

KBank unveils the first K PARK on Hathairat 33 Road by teaming up with three business giants, namely, PTT (PTT gas station and Cafe Amazon), SCG Express and Amarin Printing and Publishing to open a new lifestyle space which offers delightful experiences...

CIMB Group Chairman to Step Down by 31 December 2018

CIMB Group ("CIMB" or "the Group") today announced that its Chairman, Dato' Sri Nazir Razak, will step down from his position as Group Chairman, and all other positions within the CIMB group of companies by 31 December 2018. The CIMB Board of Directors...

KTC jointly celebrates Mo-Mo-Paradises 10th anniversary by launching Dine with chances to win an exclusive trip to Japan! with China Airlines.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, jointly with Mr. Surawech Telan, Managing Director, Noble Restaurant Company Limited, owner of "Mo-Mo-Paradise," a dark brown broth...

Photo Release: AOT entrusts KTAM to manage provident fund for 3 years

Mr.Wichai Bunyu (2nd left), the President of The Airports Of Thailand PCL. Employee's Registered Provident Fund (AOT) and Mr. Visit Balee (1st right), Fund committee recently held a Provident Fund management contract signing ceremony with Mr. Veera...

INDORAMA VENTURES AND LOOP INDUSTRIES JV TO INTRODUCE NEW ERA IN PET AND POLYESTER RECYCLING

Indorama Ventures' world-class manufacturing and Loop's state-of-the-art recycling technology combined to invest in multi-billion dollar sustainable PET resin and polyester market opportunity Demand for supply of sustainable PET sees explosive growth...

Related Topics