WB adopts US$107 million credit to solidify inland waterway safety in Vietnam
VOV.VN -The World Bank (WB) has approved a US$107 million credit aimed at strengthening the capacity, efficiency, and overall safety of inland waterways in the nation’s southern region, while also aiming to reduce greenhouse gas emissions in the transport sector.
The newly approved southern region waterways and logistics corridor development project seeks to increase freight traffic whilst reducing travel time on the critical east-west and north-south transport corridors.
This project will serve to connect key production hubs with the country’s major deep-water port, boosting export competitiveness.
According to Mariam Sherman, country director for Vietnam, Cambodia, and Laos of the WB; waterways from the nation’s southern region have huge potential to be a cheaper, greener, and safer transport mode.
This project directly supports the nation’s ambitious goals of increasing inland waterway transport competitiveness, reducing carbon emissions in the transport sector, as well as boosting the country’s overall trade competitiveness.
Upgrading the east-west transport corridor will also contribute to cutting the transport distance by approximately 30% between the Mekong Delta's largest port in Can Tho and Vietnam’s busiest port in Ho Chi Minh City.
Improvements made to the north-south transport corridor will directly connect the Mekong Delta and the hinterland with the nation’s primary deep-water port, facilitating international trade, reducing emissions, and lowering logistics costs.
Shifting to inland waterway freight transport is therefore crucial when seeking to reduce carbon emissions in the Vietnamese transport sector.
Road freight, which accounts for about 80% of greenhouse gas emissions in the transport sector, emits six times more carbon than waterway transport.
The project will also support the installation of navigation aids along with the improvement of sharp bends on the waterway, thereby further enhancing safety.
