The World Bank’s Board of Executive Directors on December 17 approved US$457 million in credit for Vietnam’s three development projects.
The first US$210 million project will provide people in Lao Cai, Phu Ly and Vinh cities with better access to improved public services.
The other US$97 million will help rural communities access their markets and provide non-agricultural economic opportunities and social services, while the last US$150 million will support Vietnam in maintaining necessary reforms towards becoming a middle income country.
The credit will be paid back over 25 years with a grace period of five years.
