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) 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 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 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.
VIR - VNA
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