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WB finances education development for Vietnam
Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) and Ms. Victoria Kwakwa, Country Director of the World Bank (WB) in Vietnam, signed the financing agreements and related legal documents of “The School Education Quality Assurance Program” and “The Higher Education Development Policy Program” with a total value of USD 177 million in Hanoi on August 21.
The School Education Quality Assurance Program is funded with a loan of USD 127 million from the WB, grants of £17 million from the United Kingdom Department for International Development (DFID) and USD 3 million from Belgium and a counterpart contribution of USD 26.9 million from the Vietnamese Government. The program will be implemented in 35 provinces and cities nationwide from 2009 to 2015.
The Program aims at improving the quality of primary education in Vietnam, narrowing the gap in study results among areas and increasing the number of pupils completing primary education by increasing instructional time in the classroom and improving school and teaching environments with the priority treatment being given to primary pupils in the disadvantaged districts and schools in the beneficiary provinces and cities.
The Higher Education Development Policy Program-First Operation is worth USD 50 million funded by the WB according to the Development Policy Loan (DPL) under the framework of the credit totaling USD 150 million with a 30-year maturity. The Program will be disbursed once per year with the attachment of policy matrix. The policy matrix aims at strengthening governance, rationalizing financing, improving accountability for performance, and enhancing transparency in financial management within the higher education sector. The objective of the program is to support the Vietnamese Government in implementing the “Higher Education Reform Agenda” (Resolution No 14/2005/NQ-CP of the Government dated November 2, 2005). Therefore, the Program will support the development of a modern higher education system and meet the demand of high quality human resources, hence contributing to Vietnam’s national industrialization and modernization and international integration.
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