The Australian Agency for International Development (AusAID) and theWorld Bank have confirmed their commitment to support Vietnam'slong-term socio-economic development in a recently signed strategicpartnership agreement for the next five years.
Under this partnership, AusAID will provide the World Bank with 58million Australian (61.7 million USD) for the bank's investment andadvisory programme to support Vietnam.
The partnership aimsto foster an enabling environment for improved economiccompetitiveness, increased environmental sustainability, and broadenedaccess to economic and social opportunity.
An agreement for97 million USD in additional funding for the third rural transportproject was also signed on March 9 between the State Bank of Vietnam andthe World Bank.
The project aims to increase the number ofcommunities connected to new and improved all weather roads; improverural road conditions through better management and maintenance; andimprove institutional effectiveness to plan, implement and maintainimprovements in rural transportation.
The additionalfinancing comes from the International Development Association, theWorld Bank's funding resource for low income countries.
Theimproved transport system is expected to benefit up to five millionpeople in all 32 participating provinces in central and northernVietnam, including 14 mountainous provinces.
To date, theproject has rehabilitated about 2,100 km of roads and completed themaintenance of approximately 13,000 km of district roads and bridges.
Alsoon March 9, the Asian Development Bank and the State Bank of Vietnamsigned loan agreements worth 180 million USD to help the country improveirrigation and urban infrastructure.
The first agreementis to develop irrigation infrastructure and management of waterresources and services in the northern Chu and southern Ma river basinsin central Thanh Hoa province. The second involves improving urbaninfrastructure and municipal services in the northern economic centresof Viet Tri Town in Phu Tho province, Hung Yen province and Dong Dangtown in Lang Son province.-VNA
Under this partnership, AusAID will provide the World Bank with 58million Australian (61.7 million USD) for the bank's investment andadvisory programme to support Vietnam.
The partnership aimsto foster an enabling environment for improved economiccompetitiveness, increased environmental sustainability, and broadenedaccess to economic and social opportunity.
An agreement for97 million USD in additional funding for the third rural transportproject was also signed on March 9 between the State Bank of Vietnam andthe World Bank.
The project aims to increase the number ofcommunities connected to new and improved all weather roads; improverural road conditions through better management and maintenance; andimprove institutional effectiveness to plan, implement and maintainimprovements in rural transportation.
The additionalfinancing comes from the International Development Association, theWorld Bank's funding resource for low income countries.
Theimproved transport system is expected to benefit up to five millionpeople in all 32 participating provinces in central and northernVietnam, including 14 mountainous provinces.
To date, theproject has rehabilitated about 2,100 km of roads and completed themaintenance of approximately 13,000 km of district roads and bridges.
Alsoon March 9, the Asian Development Bank and the State Bank of Vietnamsigned loan agreements worth 180 million USD to help the country improveirrigation and urban infrastructure.
The first agreementis to develop irrigation infrastructure and management of waterresources and services in the northern Chu and southern Ma river basinsin central Thanh Hoa province. The second involves improving urbaninfrastructure and municipal services in the northern economic centresof Viet Tri Town in Phu Tho province, Hung Yen province and Dong Dangtown in Lang Son province.-VNA
