Total Official Development Assistance (ODA) capital for the project is worth around US $150 million, to be funded by the International Development Association (IDA), under the World Bank (WB). 

The PM has empowered Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh to sign an agreement on the loan and other related documents with the WB.

The SBV will cooperate with relevant agencies to complete procedures for launching the project.

The Natural Disaster Management Project is a follow-up of the Natural Disaster Risk Management Project, which has been carried out in some central provinces since 2005.

The project will improve capacity of preventing, coping with, recovering and minimizing human and property losses caused by natural disasters in central coastal localities of Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Quang Nam, Quang Ngai, Da Nang, Binh Dinh and Ninh Thuan. It will be implemented within five years from 2012.

By Thuy Dung