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PRESS RELEASE June 29, 2020

Vietnam: New WB Support for Higher Education and Urban Development

WASHINGTON, June 30, 2020—The World Bank Board of Executive Directors today approved financing for two projects worth a total of US$422 million to help build a climate-resilient city in the Mekong Delta and improve the quality of Vietnam’s three national universities.

The Vietnam University Development Project, financed through a US$295-million credit, will improve teaching and research capacity at Vietnam National University-Hanoi, Vietnam National University-Ho Chi Minh City and the University of Danang. Through investments in modern infrastructure, cutting-edge equipment and knowledge transfer, it will help accelerate the transformation of these three universities into regionally competitive institutions with advanced teaching and research capabilities.

The Vinh Long City Urban Development and Enhanced Climate Resilience Project in Vinh Long Province, financed through a US$127 million credit, will improve access to infrastructure and connectivity and reduce flood risks in Vinh Long City’s urban core. By building flood control and wastewater management systems and developing key transport links, it will better equip Vinh Long to function as an economically and physically integrated metropolitan area.

“Investing in human capital and urban development are among the top priorities of the World Bank’s engagement in Vietnam,” said Ousmane Dione, World Bank Country Director for Vietnam. “These two projects will help accelerate real progress in areas critical to sustainable growth for Vietnam: skilled workers and more efficient and greener infrastructure.”

The university development project aims to address some key challenges faced by the higher education system. With the new funding, university infrastructure, once overcrowded and obsolete, will be upgraded to be modern, integrated, green and digital ready. The project, implemented in the three flagship universities, is also expected to enhance institutional capacity and to adopt new digital technology, in line with the national goals identified in the recently amended law on higher education and the upcoming 10-year higher education strategy.

The Vinh Long City development project will invest in resilient infrastructure and improved disaster risk management of Vinh Long City – a secondary city strategically located along the economic corridor that connects Ho Chi Minh City to the Mekong Delta. The project will help improve access to basic services such as drainage, wastewater collection and treatment and other green infrastructure and reduce the flooding risk exposed to 60 percent of the city’s population. It will also develop three strategic roads that will serve as critical links in the city's road network.  

These two credits are provided by the International Development Association (IDA). 


PRESS RELEASE NO: 2020/245/EAP

Contacts

In Washington
Nick Keyes
+1-202-473-9135
nkeyes@worldbank.org
In Hanoi
Le Thi Quynh Anh
(+84-24) 3937-8362
ale5@worldbank.org
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