The World Bank and the State Bank of Vietnam on July 11 signed agreements for loans and credit 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 the flood risk and improve connectivity between Can Tho city centre and the new urban areas. The project will benefit more than 420,000 urban dwellers and enhance the capacity of city authorities to manage disasters.
The remaining US$310 million will build climate resilience and ensure sustainable livelihoods for the 1.2 million people living in nine Mekong Delta provinces affected by climate change, saline intrusion, coastal erosion and flooding.
The Mekong Delta integrated climate resilience and sustainable livelihoods project supports better climate-smart planning and improved climate resilience of land and water management practices.
The project will benefit farmers in the upper delta provinces, and aquaculture farm and fishing households along the coastal provinces in the region, including the Khmer ethnic minority people living in Soc Trang and Tra Vinh provinces.
Meanwhile, the Can Tho urban development and resilience project supports the construction of the surrounding embankment, tidal gates/valves and improved rainwater storage and drainage systems, as well as other non-structural measures to help the city manage urban flooding.
The project will also help increase intra-city connectivity and encourage new urban development in the less flood prone area of Cai Rang. Under the project, management systems will also be built to improve spatial planning, data and information management, and public financial management.
(Originally posted by Nhan Dan online)