(VOV) -The World Bank (WB) has pledged US$600 million in funding to flood prevention and control projects in HCM City.
The commitment was announced after November 26 meeting between representatives from the WB, the HCM City People’s Committee, and the Ministry of Agriculture and Rural Development.
Nhieu Loc-Thi Nghe cannel
HCM City Vice Mayor Nguyen Trung Tin warned the city faces a severe flooding risk exacerbated by rising tides, water discharge, and torrential rains.
Five HCM City areas are especially vulnerable to flooding, including Nhieu Loc-Thi Nghe, Kenh Doi-Kenh Te, Ben Nghe-Tau Hu, Tan Hoa-Lo Gom, and Tham Luong-Ben Cat. Floods damage city property worth an estimated VND5,000 billion (roughly US$234 million) every year.
The WB will use its resources to help HCM City’s flood research and evaluation efforts in the interests of improving authorities’ natural disaster responses.
The bank is currently assisting the city’s Tan-Hoa-Lo Gom anti-flood project, scheduled for completion by the end of 2014.
Đăng ký: VietNam News