ID :
50310
Thu, 03/12/2009 - 22:29
Auther :
Shortlink :
http://m.oananews.org//node/50310
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Urban upgrade to stem city migration
Hanoi (VNA/VNS) - The Asian Development Bank will provide a loan of 72 million USD for an urban upgrade project in central Thanh Hoa City that aims to stem the local population drift towards larger metropolises like Hanoi and HCM City.
The 118 million USD project on Thanh Hoa City Comprehensive Socio-economic
Development is part of a nationwide government plan to promote sustainable
development in Vietnam 's mid-sized cities, said an ADB press release.
Thanh Hoa, in north-central region, has a population of 200,000 with major
industrial and tourism potential. But infrastructure gaps and a shortage of skilled
labour in areas targeted for development have held back investment.
The project seeks to transform Thanh Hoa into a "competitive and livable city" with
a comprehensive investment programme to upgrade infrastructure, boost the
development of human resources, build up the capacity of key service agencies, and
tap the province's tourism potential.
Among the works planned are road and bridge construction and rehabilitation;
replacement of damaged water pipes; improvements to sanitation facilities; and
upgrades to a museum and other key tourism sites.
A Water Financing Partnership Facility (WFPF) grant will be used to reform and
strengthen Thanh Hoa's water supply and urban environment companies.
ADB's loan, from its concessional Asian Development Fund, has a 32-year term,
including an eight-year grade period.
ADB will also provide a 2 million USD grant through the WFPF to improve the city's
water supply. The WFPF grant includes 1.2 million USD from the Multi-Donor Trust
Fund and 800,000 USD from the Netherlands Trust Fund. The former includes
contributions from Australia , Austria , Norway and Spain , and the latter is
financed by the Government of the Netherlands .
The ADB loan and the WFPF grant cover 63 percent of the total project cost. The
Government of the Republic of Korea will provide a 32.7 million USD loan and
the Government of Vietnam - 11.2 million USD, according to the press release.
Thanh Hoa provincial People's Committee is the executing agency for the project
which is due for completion around the end of June 2014.-Enditem
The 118 million USD project on Thanh Hoa City Comprehensive Socio-economic
Development is part of a nationwide government plan to promote sustainable
development in Vietnam 's mid-sized cities, said an ADB press release.
Thanh Hoa, in north-central region, has a population of 200,000 with major
industrial and tourism potential. But infrastructure gaps and a shortage of skilled
labour in areas targeted for development have held back investment.
The project seeks to transform Thanh Hoa into a "competitive and livable city" with
a comprehensive investment programme to upgrade infrastructure, boost the
development of human resources, build up the capacity of key service agencies, and
tap the province's tourism potential.
Among the works planned are road and bridge construction and rehabilitation;
replacement of damaged water pipes; improvements to sanitation facilities; and
upgrades to a museum and other key tourism sites.
A Water Financing Partnership Facility (WFPF) grant will be used to reform and
strengthen Thanh Hoa's water supply and urban environment companies.
ADB's loan, from its concessional Asian Development Fund, has a 32-year term,
including an eight-year grade period.
ADB will also provide a 2 million USD grant through the WFPF to improve the city's
water supply. The WFPF grant includes 1.2 million USD from the Multi-Donor Trust
Fund and 800,000 USD from the Netherlands Trust Fund. The former includes
contributions from Australia , Austria , Norway and Spain , and the latter is
financed by the Government of the Netherlands .
The ADB loan and the WFPF grant cover 63 percent of the total project cost. The
Government of the Republic of Korea will provide a 32.7 million USD loan and
the Government of Vietnam - 11.2 million USD, according to the press release.
Thanh Hoa provincial People's Committee is the executing agency for the project
which is due for completion around the end of June 2014.-Enditem
