WB plans $1.3-1.5 billion loan to Vietnam

Published: 27/05/2009 05:00

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The World Bank (WB) in Vietnam intends to submit a loan for approval worth US$1.3-1.5 billion to the country in late June for the fiscal year 2009, a WB official said.

The WB’s newly-appointed Country Director in Vietnam, Victoria Kwakwa, announced the plan while meeting with Prime Minister Nguyen Tan Dung in Hanoi Wednesday.

Kwakwa said that the WB is considering additional commercial loans to Vietnam worth up to $3-3.5 billion within the next three years after it received positive assessments of the efficiency of WB-funded projects in the country.

She asked the Vietnamese government to work closely with the WB to come up with appropriate projects to utilize this capital. She also urged Vietnam to speed up the planned disbursement of the WB loan.

Dung said the government will step up coordination with the WB to draw up projects for the funding, focusing on transport infrastructure, energy, human resources development and healthcare services.

Source: VNA

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