Governor of the State Bank of Viet Nam (SBV) Nguyen Van Giau and World Bank (WB) Country Director for Viet Nam Victoria Kwakwa on May 25 in Ha Noi jointly inked financing agreements worth of US $682 million for five projects on poverty reduction, health, energy and environment sanitation.
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The signing ceremony of financing agreements between the State Bank of Viet Nam and the World Bank, Ha Noi, May 25, 2010
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The project on reforming the power sector will be given the biggest loan of US $318 million to develop a competitive power market.
Another US $165 million will back poverty reduction in northern mountainous areas.
The project on healthcare assistance in the northern Central Region will receive US $75 million to improve local healthcare network.
The rest two projects will target to better environmental sanitation in the Red River Delta and Ho Chi Minh City.
Addressing the signing ceremony, SBV GovernorNguyen Van Giau treasured the goodwill of the WB and its fruitful coordination with the Vietnamese partners.
Once coming into operation, these projects will bring about positive results in poverty reduction, socio-economic development, and higher living standards, said Mr. Giau./.