Raising Efficiency of Road Asset Management and Maintenance Practices in Vietnam

Raising Efficiency of Road Asset Management and Maintenance Practices in Vietnam

The State Bank of Vietnam and the World Bank signed a US$250 million credit to improve the efficiency and sustainability of road asset management and maintenance practices in Vietnam.

The funding, to support the Vietnam Road Asset Management Project (VRAMP), will come from the International Development Association – the World Bank Group’s funding resource for low income countries.

The Australian Government will also provide 1.7 million Australian dollars to this project through a Trust Fund, managed by the World Bank, for the development and implementation of a comprehensive Road Asset Management System.

Apart from the Road Asset Management System, the Project will help advance the reform agenda with increased usage of performance-based contracts and support the performance of the Road Maintenance Fund. The project will directly benefit road users in 13 provinces in northern Vietnam that will be improved and maintained under the project. Improvement and preventive maintenance of these sections will result in reduced vehicle operating costs, a reduction of travel time, and a reduction in road accidents due to improved road safety features.

Q.C

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