The World Bank and the State Bank of Vietnam signed on Monday a credit for the country’s northern delta transport development project for US$ 170 million.
|Barges navigate in the Red River in Hanoi|
The project has a total investment capital of US$200 million, with US$30 million financed by the Vietnamese government.
The project will be carried out from May 2009 to June 2012 in 14 cities and provinces namely Hanoi, Ha Nam, Hai Phong, Ninh Binh, Nam Dinh, Thai Binh, Hung Yen, Hai Duong, Bac Ninh, Bac Giang, Vinh Phuc, Phu Tho, Tuyen Quang and Quang Ninh.
The objective is to enhance the efficiency, environmental sustainability and safety of transport infrastructure and services in two major waterway corridors in the northern delta region. Specifically, the project aims to reduce travel time along the two waterway corridors, reduce traffic accidents and fatalities associated with river crossings at ferry boat stages, and reduce environmental pollution from the operations of river ports improved by the project.
This is the WB’s second waterway transport project to be carried out in Vietnam, following the first in the Mekong Delta in the south, according to the WB.