WB funds US$70mln for urban upgrade in Can Tho
The World Bank (WB) has agreed to provide US$69.9 million for an urban area upgrade project in the Mekong Delta city of Can Tho, according to local authorities.
The money is in the form of Official Development Assistance (ODA) with a grace period of five years and a yearly interest rate of 2.5 percent.
The Vietnamese Government will earmark US$20.4 million to the project.
The project covers the upgrade of local infrastructure including roads, water supply and drainage systems, lighting systems, environment and hygiene equipment and other facilities.
It will be implemented in two phases with the first from 2012 to 2014 and the second from 2015 to 2017.
There will be more than 524,000 direct and indirect beneficiaries upon the completion of the project.
The Can Tho project is part of a larger one on upgrading six urban areas in the country’s Mekong Delta with an aim of reducing poverty by improving living conditions of the local communities.
The Vietnamese Government will earmark US$20.4 million to the project.
The project covers the upgrade of local infrastructure including roads, water supply and drainage systems, lighting systems, environment and hygiene equipment and other facilities.
It will be implemented in two phases with the first from 2012 to 2014 and the second from 2015 to 2017.
There will be more than 524,000 direct and indirect beneficiaries upon the completion of the project.
The Can Tho project is part of a larger one on upgrading six urban areas in the country’s Mekong Delta with an aim of reducing poverty by improving living conditions of the local communities.