World Bank, Da Nang City take partnership for sustainable, inclusive growth

The World Bank and Da Nang City People’s Committee yesterday agreed to uplift their partnership to further promote competitive, sustainable and inclusive growth in the central city of Da Nang.

At the signing ceremony (Photo: Courtesy of World Bank)

At the signing ceremony (Photo: Courtesy of World Bank)

They signed a Memorandum of Understanding (MoU) to this effect, laying the foundation for a comprehensive partnership in which Da Nang City can better tap into the World Bank’s global knowledge, financial resources and convening power to tackle many urban challenges facing a fast-growing city.
As the regional economic hub and international gateway in Vietnam’s central region, Da Nang City has registered impressive growth in manufacturing sector and increasingly in service-oriented industries (tourism, trade and finance, and logistics).
At the same time, new challenges have emerged, notably fast urbanization and climate change, prompting a reconsideration of development approaches.
Further co-operation activities are expected in the areas of integrated socio-economic planning, public finance management, sustainable urban development (in the field of transport, energy, water and sanitation), environmental protection, and building a competitive workforce.
The two sides will establish a platform to conduct regular and strategic discussions, share knowledge and lessons learned, and pool and leverage resources and expertise.
The World Bank’s long-standing collaboration with Da Nang City has been expanding from an initial focus on basic infrastructure to a multi-sectoral approach that emphasizes integration and coordination across institutions.
To date, World Bank loans and credits to Da Nang total approximately US$500 million.

By UYEN PHUONG

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