AusAID, World Bank confirm support
The Australian Agency for International Development (AusAID) and the
World Bank have confirmed their commitment to support Vietnam's
long-term socio-economic development in a recently signed strategic
partnership agreement for the next five years.
The Australian Agency for International Development (AusAID) and the
World Bank have confirmed their commitment to support Vietnam's
long-term socio-economic development in a recently signed strategic
partnership agreement for the next five years.
Under this partnership, AusAID will provide the World Bank with 58 million Australian (61.7 million USD) for the bank's investment and advisory programme to support Vietnam.
The partnership aims to foster an enabling environment for improved economic competitiveness, increased environmental sustainability, and broadened access to economic and social opportunity.
An agreement for 97 million USD in additional funding for the third rural transport project was also signed on March 9 between the State Bank of Vietnam and the World Bank.
The project aims to increase the number of communities connected to new and improved all weather roads; improve rural road conditions through better management and maintenance; and improve institutional effectiveness to plan, implement and maintain improvements in rural transportation.
The additional financing comes from the International Development Association, the World Bank's funding resource for low income countries.
The improved transport system is expected to benefit up to five million people in all 32 participating provinces in central and northern Vietnam, including 14 mountainous provinces.
To date, the project has rehabilitated about 2,100 km of roads and completed the maintenance of approximately 13,000 km of district roads and bridges.
Also on March 9, the Asian Development Bank and the State Bank of Vietnam signed loan agreements worth 180 million USD to help the country improve irrigation and urban infrastructure.
The first agreement is to develop irrigation infrastructure and management of water resources and services in the northern Chu and southern Ma river basins in central Thanh Hoa province. The second involves improving urban infrastructure and municipal services in the northern economic centres of Viet Tri Town in Phu Tho province, Hung Yen province and Dong Dang town in Lang Son province.-VNA
Under this partnership, AusAID will provide the World Bank with 58 million Australian (61.7 million USD) for the bank's investment and advisory programme to support Vietnam.
The partnership aims to foster an enabling environment for improved economic competitiveness, increased environmental sustainability, and broadened access to economic and social opportunity.
An agreement for 97 million USD in additional funding for the third rural transport project was also signed on March 9 between the State Bank of Vietnam and the World Bank.
The project aims to increase the number of communities connected to new and improved all weather roads; improve rural road conditions through better management and maintenance; and improve institutional effectiveness to plan, implement and maintain improvements in rural transportation.
The additional financing comes from the International Development Association, the World Bank's funding resource for low income countries.
The improved transport system is expected to benefit up to five million people in all 32 participating provinces in central and northern Vietnam, including 14 mountainous provinces.
To date, the project has rehabilitated about 2,100 km of roads and completed the maintenance of approximately 13,000 km of district roads and bridges.
Also on March 9, the Asian Development Bank and the State Bank of Vietnam signed loan agreements worth 180 million USD to help the country improve irrigation and urban infrastructure.
The first agreement is to develop irrigation infrastructure and management of water resources and services in the northern Chu and southern Ma river basins in central Thanh Hoa province. The second involves improving urban infrastructure and municipal services in the northern economic centres of Viet Tri Town in Phu Tho province, Hung Yen province and Dong Dang town in Lang Son province.-VNA
You should also see
Semiconductor workforce development a breakthrough: PM
Human resources development in semiconductors should be considered a breakthrough in personnel training, Prime Minister Pham Minh Chinh said at a conference in Hanoi on April 24.
See more
Business
Petrovietnam posts 9-billion-USD revenue in Q1
The Vietnam National Oil and Gas Group (Petrovietnam) saw total estimated revenue of 231 trillion VND (9 billion USD) from production and business activities in the first quarter of 2024, exceeding the set quarterly plan by 33% and up 19% year-on-year, head a conference held by the group recently.
Business
Forum seeks to increase PPP investment effectiveness
Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Business
Remittance inflows expected to quench real estate sector’s thirst for capital: Experts
Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.
Business
Dong Nai province ready to ride Japanese investment wave
The southern province of Dong Nai stands ready to prepare the best conditions to welcome investors, especially those from Japan, Secretary of the provincial Party Committee Nguyen Hong Linh said on April 24.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
