World Bank approves 320 million USD credits to Vietnam

The World Bank has approved plans to grant Vietnam two International Development Association (IDA) loans worth 320 million USD.

The first 150-million-USD credit will go toward supporting the government’s implementation of its 2006-2010 Social Economic Development Plan (SEDP).

It will fund the country’s work in business and financial sector reform, addressing education and health insurance cost issues, as well as pension plans. Forest development and land-use planning and governance in public investment projects and state auditing are also on the SEDP’s reform agenda.

A project to upgrade transport infrastructure and services through two major waterway corridors in the country’s northern delta region will absorb the remaining 170 million USD loan.

It will involve investment in multimodal transport corridors and ferry boat stages as well as management support to the transport ministry and associated provincial agencies.

The World Bank also says it plans to commit 5 billion USD to Vietnam over the next three years.

VNA

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