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World Bank’s cancelation of $10mn funding for project in Nha Trang a ‘huge loss’: ex-official

World Bank’s cancelation of $10mn funding for project in Nha Trang a ‘huge loss’: ex-official

Monday, January 22, 2024, 19:41 GMT+7
World Bank’s cancelation of $10mn funding for project in Nha Trang a ‘huge loss’: ex-official
A section of the Cai River in Nha Trang City, Khanh Hoa Province, south-central Vietnam. The World Bank has canceled its $10 million funding for a project in the city, including building dykes along the Cai River. Photo: Phan Song Ngan / Tuoi Tre

The World Bank’s withdrawal of its US$10 million funding for a sustainable environmental project in Nha Trang City, the capital of Khanh Hoa Province in south-central Vietnam, has left 'a huge loss' for the province, said a former official.

It means that Nha Trang has missed an opportunity to boost its development and improve the living environment for local residents, according to Pham Van Chi, former deputy secretary of the Party Committee and ex-chairman of the People’s Committee of Khanh Hoa Province.

The project, part of the Coastal Cities Sustainable Environment Project (CCSEP) funded by the WB, had the objective of mitigating flooding and environmental pollution in the northern part of Nha Trang.

It also aimed to enhance environmental hygiene, prevent erosion along the banks of the local Cai River, and upgrade traffic infrastructure to meet the city's developmental needs.

The Nha Trang City Sub-project of CCSEP commenced in 2016 with a total cost of $72 million and was scheduled for completion at the end of June this year.

However, a mere 26.2 percent of all impacted households had accepted compensation and handed over their land for the sub-project as of November last year, according to the Khanh Hoa Development Project Management Unit.

In March 2023, the WB found that 32 percent of the compensation packages were not fully compliant with its policies.

Consequently, many sites remain uncleared for construction, leading to the withdrawal of the WB's $10 million funding for the sub-project.

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Thanh Ha - Phan Song Ngan / Tuoi Tre News


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