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World Bank and Da Nang city partner to promote sustainable, inclusive growth

They signed a Memorandum of Understanding (MoU) to this effect, laying the foundation for a comprehensive partnership in which Da Nang can better tap into the World Bank’s global knowledge, financial resources and convening power to tackle many urban challenges facing a fast-growing city.  


World Bank Hanoi
Updated: 09-09-2019 22:58 IST
World Bank and Da Nang city partner to promote sustainable, inclusive growth

“This dynamic city is rapidly evolving and so is our partnership,” said Ousmane Dione, World Bank Country Director for Vietnam.  Image Credit: www.worldbank.org

The World Bank and Da Nang City People's Committee today agreed to uplift their partnership to further promote competitive, sustainable and inclusive growth in Da Nang.

They signed a Memorandum of Understanding (MoU) to this effect, laying the foundation for a comprehensive partnership in which Da Nang can better tap into the World Bank's global knowledge, financial resources and convening power to tackle many urban challenges facing a fast-growing city.

As the regional economic hub and international gateway in Vietnam's central region, Da Nang has registered impressive growth in the manufacturing sector and increasingly in service-oriented industries (tourism, trade and finance, and logistics). At the same time, new challenges have emerged, notably fast urbanization and climate change, prompting a reconsideration of development approaches.

"This dynamic city is rapidly evolving and so is our partnership," said Ousmane Dione, World Bank Country Director for Vietnam. "Da Nang will be a front-runner for urban efficiency and resilience and a destination for innovation. We are excited to bring our partnership to the next level, thus accompanying the city in this process."

Further co-operation activities are expected in the areas of integrated socio-economic planning, public finance management, sustainable urban development (transport, energy, water, and sanitation), environmental protection, and building a competitive workforce.

The two sides will establish a platform to conduct regular and strategic discussions, share knowledge and lessons learned, and pool and leverage resources and expertise.

The World Bank's long-standing collaboration with Da Nang City has been expanding from an initial focus on basic infrastructure to a multi-sectoral approach that emphasizes integration and coordination across institutions. To date, World Bank loans and credits to Da Nang total approximately US$500 million.

COUNTRY : Vietnam