$415 million credit provided to assist in upgrades to 450 dams around Vietnam.
The World Bank Group’s Board of Executive Directors has approved a $415 million credit from the International Development Association (IDA) for improvements to safety at 450 irrigation dams in Vietnam.
“We are pleased to support the government’s dam safety program with financing for this critical rehabilitation project,” said Ms. Victoria Kwakwa, World Bank Country Director for Vietnam. “Failure to secure safety at these dams poses a serious risk to human safety and economic resilience. This project will help protect the safety and livelihoods of the 6.8 million people who rely on these dams.”
The Vietnam Dam Rehabilitation and Safety Improvement Project, which supports the government’s dam safety program, will upgrade about 450 irrigation dams that have been prioritized based on their age and state of degradation. This will help about 2.7 million people who rely on these dams for agricultural and aquaculture production and water supply and about 4.1 million people and economic assets downstream that are at risk in the event of a dam failure.
Vietnam has one of the largest networks of dams and hydraulic infrastructure in the world, alongside China and the US. This network comprises over 7,000 dams of different types and sizes that make a substantial contribution to the country’s development. This is particularly true in rural areas where 70 to 80 per cent of the population earns a living through agriculture.
In addition to financing the upgrading of irrigation dams the project will also support the government’s efforts to implement a sustainable framework for ensuring safety at all dams in the country.