More WB pledges for development in Vietnam
  • | | June 01, 2011 12:25 PM

>> WB prioritises public investment in Vietnam

>> WB funds medical insurance for near poor

>> WB pushes environmental improvement in Nha Trang

The World Bank will provide loan and four credits, totalling USD620 million, for development in Vietnam.

WB has financed a lot of infrastructure projects in Vietnam

The World Bank and the State Bank of Vietnam (SBV) signed agreements for the financing in Hanoi, on May 31.

“Vietnam’s 10-year Socioeconomic Development Strategy 2011-2020 recognises that the country faces challenges in institutional reforms, as well as a huge infrastructure gap and constraints to environmental sustainability.” said Victoria Kwakwa, Country Director for the World Bank in Vietnam.

“The loan and credits signed today are expected to help with necessary infrastructure development, provide support to the Government to modernise its approach to infrastructure development and management, address important environmental challenges, and recognising [sic] the Government’s reforms in pro-poor policies,” Kwakwa added.

A loan worth USD180 million from the IBRD, the World Bank’s lending arm for middle income countries, will benefit the Second Transmission and Distribution Project to help reinforce Vietnam’s electricity transmission system.

The four credits will be provided by the International Development Association (IDA), a WB’s agency that helps the world’s poorest countries.

One credit worth USD65 million will provide financing for the Coastal Cities Environmental Sanitation Project, which is expected to provide better sanitation for over 600,000 people in the central coastal cities of Dong Hoi, Quy Nhon and Nha Trang.

In the meantime the IDA will invest USD175 million in the Haiphong Urban Transport Project to help improve urban accessibility and strengthen capacity for urban transport management and planning in the northern port city.

The USD50 million credit is to fund the second phase of the Programme 135, for poverty reduction. This programme focuses on reforming policy and enhancing its implementation, particularly on the local level.

The remaining credit from the IDA, amounting to USD150 million, will fund the Hospital Waste Management Support Project, to strengthen health care waste management policies nationwide and support at least 150 central and provincial hospitals.

Some days ago, the World Bank approved a USD350-million loan for a project to increase public investment in the country.

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