World Bank Approves $145M Loan for Vietnam's Resilience Project
The World Bank has approved a loan of nearly US$145 million for the Integrated Resilient Development Project in Vietnam. This project aims to protect over 1.2 million people in the coastal metropolitan area of Da Nang and the mountainous Gia Lai region from extreme weather events and coastal resilience issues.
The project targets two key areas: Da Nang, a coastal hub, and Gia Lai, a highlands corridor. In Da Nang, the project will restore river channels and construct a flood bypass canal to safeguard densely populated districts and essential services. This will reduce storm and flood disruptions, ensuring year-round access to key economic corridors. Improving infrastructure will also lower costs for businesses and households and enhance logistics efficiency.
In Gia Lai Province, the project will raise and reinforce key roads and bridges. This will maintain year-round access to the coast, benefiting more than 1.2 million people with improved flood protection, safer evacuation routes, and better access to markets and services.
The World Bank's loan will fund the Integrated Resilient Development Project, aiming to enhance the resilience of infrastructure in Da Nang and Gia Lai. This project is expected to significantly improve the lives of over 1.2 million people by protecting them from extreme weather events and enhancing their access to essential services and markets.
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