World Bank Approves Four Projects for Vietnam worth US$ 309 million

WASHINGTON, June 21, 2007 – The World Bank’s International Development Association (IDA) approved four projects for Vietnam, worth a total of US$309.4 million to support the country’s reforms, and social and infrastructure development. IDA is the World Bank’s fund for low-income countries.

The IDA credit packages will finance the

  • the Sixth Poverty Reduction Support Operation (US$ 175 million),
  • the Second Higher Education Project (US$ 70.5 million),
  • the Ho Chi Minh City Investment Fund for Urban Development Project (US$ 50 million credit plus US$ 30 million), and
  • provide additional funding for the Mekong Transport and Flood Protection Project (US$ 25 million).

“We call today a Vietnam Day as there have never been so many Vietnamese projects approved by our Board of Directors on the same day like this before,” said Laurent Msellati, the Acting Country Director for the World Bank in Vietnam. “This reflects the fact that Vietnam continues to be high in the World Bank’s priority list and that Vietnam has performed better in yielding project results.”

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