The World Bank will provide a new fund worth US$300 million to aid communities in Vietnam's Central Highlands and a number of coastal areas.
Tuoi Tre reports that the financing package will go towards two initiatives, the Central Highlands Connectivity Improvement Project and the Forest Sector Modernization and Coastal Resilience Enhancement Project.
Ousmane Dione, the World Bank's Country Director, said in a statement, "Investing in environmentally-sustainable projects is investing in the future of Vietnam. The World Bank fully supports Vietnam's efforts to strengthen its resilience to climate change and to serve the needs of communities and businesses."
According to the news source, half of the financial package will be earmarked for upgrading a 142-kilometer stretch of National Highway 19 in the Central Highlands. As a result, residents of Binh Dinh and Gia Lai provinces will have better access to markets, reduced travel times and improved road safety.
The remaining funding will aid in the management of coastal forests in Quang Tri, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Thua Thien-Hue, Quang Ninh and Hai Phong.
Tuoi Tre adds that communities in these regions will enjoy benefits through the rehabilitation of degraded forests, protection of existing forests and creation of eco-tourism and aquaculture opportunities.
[Photo via ADB]
