THE SOCIALIST REPUBLIC OF VIET NAM
Government News
WB finances poverty reduction and rural communication
VNGOP – The State Bank of Vietnam and the World Bank (WB) signed on May 17 in Hanoi an preferential credit agreement worth of over US$ 156 million to support two projects on poverty alleviation in ethnic minority communities and on expanded rural communication network.
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WB and the Vietnam State Bank representatives sign the agreement |
The first credit worth of US$50 million will be used to fund the second stage of the Socio-economic Development Program in disadvantaged communes (Program 135). This program lasts for three years (2007-2010), requiring a total capital of US$150 million. It aims at the socio-economic development in 1,644 poorest communes and 2,500 villages.
The second credit of US$ 106.25 million focuses on Vietnam's rural communication project 3 in which new district, communal and village roads will be improved, upgrade and built in 33 provinces in North and Central Vietnam. The project is co-funded with US$ 25.4 million by the UK Department for International Development.
By Phương Uyên