PM agrees on two foreign-funded projects
VGP – The Government chief recently approved two credit projects with the World Bank (WB) and the International Fund for Agricultural Development (IFAD) on social welfare.
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The WB’s additional financing on natural disaster risk management will be used to support the reconstruction of basic local public structures, including schools, health clinics, roads, bridges, water and sewerage facilities, pumping stations, canals, etc. - Illustration photo |
The Government chief gave a nod to the supplementary finance agreement and related documents of the Natural Disaster Risk Management Project with the WB.
The Governor of the State Bank of Việt Nam was appointed to ink the agreement and relevant documents with the donor.
It was reported that the additional credit will scale up the current project by helping: (a) fill a substantial financing gap for post-disaster reconstruction in the wake of two deadly typhoons in 2009, Ketsana (September) and Mirinae (November); and (b) further anticipate short-term financing gaps for reconstruction from future major natural disasters in Việt Nam.
* The Government chief also approved the finance agreement of the project on sustainable economic development for ethnic minorities in the Central Highland province of Đắk Nông.
The Ministry of Foreign Affairs (MoFA) was assigned to authorize the Việt Nam’s Ambassador in Italy to seal the agreement with the IFAD.
The Ministry of Finance will be in charge of defining criteria of lending for the Việt Nam Bank of Agriculture and Rural Development to disburse the loan./.
By Kim Loan
