WB approves loan to support VN’s public investment
VGP - A loan from the World Bank (WB), worth of US$ 500 million, was reserved for Việt Nam through a WB member, the International Bank for Reconstruction and Development (IBRD), to support the country’s economic development and public investment reform programs.
It is the ever
biggest loan and also the first one of WB to support Việt
World
Bank’s loan will help to reform public investment
The purpose of
the loan is to boost up public investment reform, so as to resume high economic
growth rate.
The fields to
be reformed include infrastructure investment; environmental management; tender
assessing, appraising and supervising projects; public financial management;
and legal framework proposals for the private sector’s participation in
infrastructure.
On
December 03, the PM
issued Official Letter No. 2405/TTg-QHQT to ratify the first loan for Public
Investment Reform Development Policy with the WB.
The loan,
worth of US$ 1 billion, consists of two components which will be disbursed in
January 2010 and Q3 of 2010 respectively.
By Thùy Dung
