WB, ADB to lend 110 mln USD to Vietnam
10/12/2008 16:18
The World Bank (WB) and the Asian Development Bank (ADB) will offer a
combined credit of US$110.3 million to help Vietnam improve its agriculture,
reduce poverty and rebuild rural infrastructure damaged by natural disasters,
the local newspaper Vietnam's Agriculture reported today.
According to an
agreement signed by State Bank of Vietnam and WB in Hanoi yesterday, WB will
loan US$59.8 million to help Vietnam carry out its Agriculture Competitiveness
Project, targeting eight central provinces in Vietnam.
Meanwhile, ADB will
provide a US$25-million loan to help Vietnam implement policy reforms for its
poverty reduction program, according to a press release yesterday.
The ADB
will also offer US$25.5 million in supplementary financing to an existing
emergency assistance loan to a Vietnam's project for the rebuilding of rural
infrastructure severely damaged by typhoons and storms in 2005.
The
supplementary ADB funding will ensure completion of the project, which targets
ten of the most badly affected provinces in northern and central regions of
Vietnam.
Xinhua
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