3:26:37 PM | 7/8/2005
The Ministry of Transport on April 12 began a project to upgrade the road network nationwide with investment capital of US$304 million, the largest World Bank-funded transport project.
The project will have US$225.2 million from World Bank and US$79.9 million from Vietnam’s responding capital, and divided into three programs.
The network preservation program will repair 2,000 km of national roads from 2005 to 2008 with total investment of US$122.6 million.
Under the network improvement program, the Ministry of Transport will pour US$170 million to rehabilitate and widen 554 km of 15 national highways in 14 northern provinces. In the first year, it will upgrade 125 km of national roads in Thai Nguyen, Bac Giang, Thanh Hoa and Nghe An provinces.
In addition, US$12 million will be spent on the road sector administration and institutional building program to enhance the managing and finance capacity of the road sector by providing technical assistance, equipment and training.
The World Bank has funded US$1.225 billion in preferential loans for 11 projects in Vietnam since 1993.
According to a plan approved by the Prime Minister, Vietnam now needs US$727 million to periodically maintain the road system in next ten years.
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