The State Bank of Vietnam signed Tuesday an agreement with the World Bank for loans worth 682 million US dollar for five projects focusing on poverty reduction, health-care and infrastructure in the country, the World Bank said.
Of the loans, 312 million dollar will be used to fund a program to reform Vietnam’s power sector by developing a competitive power market, attracting more investment in the power industry and improving energy efficiency, the lender said.
Another 150 million dollar will be spent on enhancing the living standards of the poor people in 2.366 villages of 230 communes in the country’s six northern mountainous provinces including Lao Cai, Yen Bai, Son La, Hoa Binh, Dien Bien, and Lai Chau.
The Bank said it will also provide 90 million dollar out of the total money to help Vietnam construct a 335-kilometer drainage system for the southern Ho Chi Minh City to control annual flooding and increase the collection of wastewater in an environmentally and financially sustainable manner.
Kilde: www.worldbank.org
