WB Supports Vietnam’s Development Efforts

The World Bank’s Board of Executive Directors has approved one loan and three credits totalling US$570 million in support of Vietnam’s development efforts. The money will be used to finance four operations, namely Hospital Waste Management Support Project (US$150 million), Hai Phong Urban Transport Project (US$175 million), and additional financing for the Second Transmission and Distribution Project (US$180 million) and Coastal Cities Environmental Sanitation Project (US$65 million).Read phonetically.

The approvals by the Board today include a loan of US$180 million from the IBRD, the World Bank’s lending arm for middle income country, to scale up and reinforce Vietnam’s electricity transmission system. The operation is a continuation of the Second Transmission and Distribution Project, to support efficient development of Vietnam’s electric transmission and distribution system.

 

Meeting Vietnam’s investment needs for generation, transmission and distribution, requires about US$26 billion between 2011 and 2015, or about US$5 billion per year. Moving forward, the main challenge for the sector remains the need to continue to satisfy the growing demand with acceptable quality of electricity supplies in as commercially and financially efficient a way as possible and in an environmentally sustainable manner.

 

The three credits are provided by the International Development Association (IDA) – the part of the World Bank that helps the world’s poorest countries.