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WB finances $620 mln for VN development
The World Bank (WB) will provide Vietnam with $620.4 million for five projects on healthcare services, transport, environment, poverty reduction, and energy in the country.
An agreement to this effect was signed between the WB and the State Bank of Vietnam in Hanoi on May 31.
The first loan, worth $150 million, will be earmarked for a hospital waste treatment project, helping to improve the quality of healthcare services in north-central provinces and contribute to improving the lives and health of the locals, especially the poor and the near-poor.
The second project, at a cost of $175.1 million, will assist in developing urban transport in the northern city of Haiphong, while the third project worth $65.3 million will help improve environmental sanitation in a sustainable manner in the central coastal cities of Nha Trang (Khanh Hoa), Quy Nhon (Binh Dinh) and Dong Hoi (Quang Binh).
The fourth loan, worth $50 million, will go to the second stage of Programme 135, a government poverty reduction effort, to provide planning guidance with the participation of community and technical assistance at provincial and district levels.
The final loan, worth $180 million, aims to develop an efficient system of electricity transmission and distribution facilities, and contributes to improving managerial capacity of the National Power Transmission Corporation.
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