$502 mn World Bank loan for Vietnam’s infrastructure

May 23rd, 2008 - 2:10 pm ICT by admin  

Hanoi, May 23 (Xinhua) The World Bank has approved a loan of over $502 million to help Vietnam improve its urban infrastructure, expand the rural electricity network and facilitate the accession to finance in rural areas. The money will be spent on three infrastructure projects: investment in central Da Nang city, rural electricity, and rural finance, the bank said in a press release here Friday.

“This (the approval) reflects the World Bank’s continuous and enhanced commitment to assisting Vietnam to address the challenges in its development path,” said Ajay Chhibber, the organisation’s country director for Vietnam.

They are the sectors that Vietnam will need to pay attention to if it wants to ensure continued and equitable growth, he said.

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