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Monday, June 17, 2024

World Bank cancels US$10 million funding for project in Khanh Hoa

The Saigon Times

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HCMC – The World Bank has written to the chairman of Khanh Hoa Province announcing its cancellation of US$10 million in funding for sustainable environment projects in the south-central province.

Two construction works of the second component of the Coastal Cities Sustainable Environment Project in Nha Trang City (CCSEP Nha Trang) are subject to funding cancellation. These are the embankment and a road along the Cai River, and river embankment north of the Cai River and Chu Dong Tu Street near Ponagar Cham Tower. The total investment of these two works exceeds VND250 billion, equivalent to over US$10 million.

In a letter sent to Khanh Hoa Province, Carolyn Turk, WB country director for Vietnam, East Asia and Pacific region, said that the freezing of the second component and excluding it from CCSEP Nha Trang should be made to avoid any confusion caused by activities relating to the second component, as part of the project funded by the World Bank.

The World Bank noted that 50 out of 60 households affected by the project have handed over land for implementation of the second component, but they are not compensated per the agreed policies of the project. These 50 households need to receive extra payments as costs of compensation and support for resettlement, added the World Bank.

The WB also said that the remaining 10 households that refused to relocate should receive more attention from the province.

The CCSEP Nha Trang project receives funding of around US$72 million from the World Bank, in accordance with two loan agreements with the Vietnamese Government.

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