The World Bank (WB) will provide Vietnam loans of 973 million USD to carry out three projects, covering highway, urban development and poverty reduction.
The World Bank (WB) will provide Vietnam loans of 973 million USD tocarry out three projects, covering highway, urban development andpoverty reduction.
An agreement and related legal documents tothe three projects were signed in Hanoi on Jan. 12 by State Bank ofVietnam Governor Nguyen Van Binh and WB Country Director in VietnamVictoria Kwakwa.
Under the agreements, WB will provide 613million USD to a 1.455 billion USD project to build a highway from DaNang to Quang Ngai in the central region and build constitutionalcapacity of highway development for the Transport Ministry.
Thebank will also provide 210 million USD to Vietnam to carry out aproject to develop medium-scale urban areas in northern Lao Cai and PhuLy cities and central Vinh city following a sustainable trend.
WBwill give 150 million USD to the poverty reduction support creditprogramme 10 (PRSC 10), bringing total capital from WB for 10 povertyreduction programmes to 1.625 billion USD.
PRSC 10 is the last in a chain of PRSCs which have been carried out in Vietnam since 2001.
PRSC 10 was launched in May 2010, covering 12 areas, including finance and banking, education, healthcare and environment./.
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