WB grants 520million loans to Vietnam
Ha Noi, July 5 (VNA) -- Poverty Reduction Support Credit, Ho Chi Minh City Environmental Sanitation, Mekong Delta Transport and Flood Protection are Viet Nam's three projects that will receive credits of USD 520 million from the World Bank.
Agreements to the effect were signed in Ha Noi on July 5 by Governor of the State Bank of Viet Nam Le Duc Thuy and visiting WB Vice President Jamil Kassum.
Deputy Prime Minister Nguyen Tan Dung witnessed the signing ceremony.
The USD 250 million project to support poverty reduction, approved by the WB last June, is designed to improve environment for private investment and exports, consolidate the banking system and accelerate businesses' competitiveness.
The Ho Chi Minh City Environmental Sanitation project worth USD 166 million is intended to strengthen the public health system and upgrade the living conditions for 1.2 million inhabitants living around the Nhieu Loc and Thi Nghe canals.
The third project will restore the National Highway 1's section that runs through the Mekong delta. Its implementation will be carried out in the 2001-2005 period at a cost of USD 142.88 million. It aims to upgrade roads, bridges and ferries along the National Highway 1 and train managers.--VNA
