WB lends $350 million to spur Vietnam’s reforms

Published: 07/08/2009 05:00

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The World Bank will loan US$350 million to the State Bank of Vietnam to support the country’s reforms and efforts to overcome the economic slowdown.

A credit agreement to this effect was signed in Hanoi Friday.

The new funding is part of the eighth Poverty Reduction Support Credit (PRSC8), an annual program begun in 2001 in which the World Bank and international donors provide direct budget support to help Vietnam’s progress in four areas: business development, social inclusion, natural resources management and modern governance.

Since 2001, the World Bank has provided $1.3 billion and mobilized $817 million from other donors for Vietnam.

Reported by Huong Le

Provide by Vietnam Travel

WB lends $350 million to spur Vietnam’s reforms - Politics - News |  vietnam travel company

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