The World Bank (WB) will offer Vietnam a credit of US$152.4 million to help it upgrade urban and environment infrastructure in central Da Nang city.
Under a credit agreement inked in Hanoi capital Thursday by representatives of the State Bank of Vietnam and the WB, the loan will be used to improve urban areas, environmental infrastructure and major roads and bridges, institutional capacity in investment planning in the city.
The investment project, with total investment of 218.4 million dollars, including US$152.4 million from the credit, and US$66 million from the state budget, will be carried out in 2008-2013 period.
The project shows the WB's "solid working relationship with Da Nang, one of the fastest growing cities in Vietnam, in the middle of the country's central economic triangle", Martin Rama, the bank's acting country director for Vietnam, said at the signing ceremony.
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