VN granted with a new credit of US$ 309 million
VNGOP – According to the Ministry of Finance, the International Development Association (IDA), a subsidiary of the World Bank, approved on June 21 a credit totally worth of US$ 309.4 million for some projects in Vietnam.
 |
|
A portion of credit aims at improving teaching quality and research at universities – Illustration photo |
The credit is used to fund the Program on Poverty Reduction, Project on Second Tertiary Education, Hồ Chí Minh City Investment Fund for Urban Development (HIFU), and the Mekong Delta Communications Project.
According to Mr. Laurent Msellati, World Bank Acting Country Director for Vietnam, the approval proves that Vietnam is still highly prioritized by WB and the country has fruitfully realized her projects.
A credits of US$ 175 million is directly given to the Government's budget to fund poverty reduction activities, so that Vietnam can become an average-income country at the end of the decade.
The Project on Second Tertiary Education is funded with US$ 59.4 million to increase teaching and research quality at universities, improving graduates' opportunity for job and the application of researches.
With a credit of US$ 50 million, HIFU will become an exemplary local investment model. The fund also aims to support the private sector in investing in infrastructure development projects.
About US$ 25 million will be spent to build the Gành Hào Bridge in Cà Mau City and improve 58 kilometers of national and provincial roads in the Mekong Delta.
By Hoàng Phương
