WB Supports Mekong Delta Urban Development, Climate Resilience
The World Bank (SBV) and the State Bank of Vietnam (SBV) recently signed agreements for loans and credits worth US$560 million for two projects to support urban development, climate resilience and sustainable livelihoods in the Mekong Delta.
Out of the total, US$250 million will be used for the Can Tho Urban Development and Resilience Project, to reduce flood risk and improve connectivity between the downtown of Can Tho City and new urban areas. The project will benefit more than 420,000 urban dwellers and enhance the capacity of city authorities to manage disaster risk.
The remaining US$310 million will be earmarked to build climate resilience and ensure sustainable livelihoods of 1.2 million people living in nine Mekong Delta provinces affected by climate change, salinity intrusion, coastal erosion, and flooding.
The International Development Association (IDA), the World Bank’s fund for the poorest, finances US$310 million for the Mekong Delta Integrated Climate Resilience and Sustainable Livelihoods Project, and US$125 million for the Can Tho Urban Development and Resilience Project. The International Bank for Reconstruction and Development (IBRD), the World Bank’s fund for middle income countries, also provides US$125 million for the Can Tho Urban Development and Resilience Project.
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