The World Bank has approved a $ 300 million grant to help Vietnam strengthen transport links in rural areas and protect forests in eight coastal provinces. Two new projects will receive funding including the Greater Mekong Subregional Transport Network and the Forest Sector Modernization and Strengthening of Coastal Resilience Project.
Half of the capital will be spent on the project to increase traffic connections to improve 142 km of Highway 19, improve traffic safety and disaster preparedness. When the project is completed, people in Binh Dinh and Gia Lai provinces will have easier access to the market, reduced travel time and increased traffic safety. After being renovated, the highway is expected to be capable of serving 6,200 light motor vehicles every day.
The remaining $ 150 million will help manage coastal forests in Quang Tri, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Thua Thien Hue, Quang Ninh and Hai Phong. Forest restoration and protection will create new jobs for people in more than 900 communities in 257 communes in 8 provinces in the project area. In addition, the project also creates opportunities for ecotourism and aquaculture development.
Funds for these two projects are borrowed from the International Development Association, which is the capital for low-income countries of the World Bank.
