WB pledges US$2 billion for urban development

The World Bank has committed US$2 billion to 30 Vietnamese cities to carry out urban development and management, institution and infrastructure construction projects.

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WB country director for Vietnam Victoria Kwakwa disclosed the figure at an annual conference on the Vietnam Urban Forum (VUF) in Hanoi on June 27.

Effective urbanisation is the main topic of the dialogue.

Minister of Construction Trinh Dinh Dung, the forum’s co-president, stated that the Vietnamese urban system has been developing and is a driving force behind national construction and development.

VUF serves as a bridge between the Government and donors, investors, management agencies, associations, non-governmental organisations and businesses. Its activities have contributed to accelerating international integration on urban development, he said.

Serge Allou, an expert of the World Cities Alliance, said with the participation of international donors, their recommendations will help contribute to urban development in Vietnam.

Vietnam has more than 770 urban residential areas that make up 33% of total country’s population. However, urban development remains difficult and challenging.

VUF announced its strategic plan in the 2014-2020 period, with a focus on promoting dialogue to share experience and knowledge among organisations and individuals in all economic sectors as well as donors for urban management and development.

WB country director for Vietnam Victoria Kwakwa disclosed the figure at an annual conference on the Vietnam Urban Forum (VUF) in Hanoi on June 27.

Kwakwa – the forum’s co-president - said Vietnam is a developing country and its urbanisation must be implemented effectively to contribute to economic development. Effective urbanisation will optimise human, land, and capital resources, spur social welfare, and remove barriers to development.

Vietnam has more than 770 urban residential areas that make up 33% of total country’s population. However, urban development remains difficult and challenging. Supervising the implementation of urbannisation plan, coordination between areas, investments inconsistent with schedule and lack of investment orientation are main barriers to develop urban areas.

VUF announced its strategic plan in the 2014-2020 period, with a focus on promoting dialogue to share experience and knowledge among organisations and individuals in all economic sectors as well as donors for urban management and development.

VUF is recognized for policy dialogues, sharing knowledge, information management and policy proposal.

Source: Bao Xay dung online - Ministry of Construction