WB Provides Credit for Vietnam to Develop Urban Zone, Energy

The World Bank Board of Directors recently approved a total of US$522 million in credits and loans for the development of Vietnam’s urban, energy, and forest sectors.

 

The three projects approved include the Mekong Delta Region Urban Upgrading Project, the Second Power Sector Reform Development Policy Operation, and the Forest Sector Development Project - Additional Financing. All three projects support the World Bank’s New Country Partnership Strategy (2011-2016) for Vietnam.

 

“The approval of the three operations demonstrates the continued strong partnership between Vietnam and the World Bank. They address emerging challenges such as rapid urbanization, the need for an efficient power sector to meet Vietnam's rapidly growing demand for power to support rapid growth, and the importance of sustainable management of Vietnam's forest resources to help move rural communities out of poverty," said Victoria Kwakwa, World Bank Country Director for Vietnam.

Since 1993, the World Bank has provided nearly US$15 billion in credits, loans and grants to help the country sustain growth and reduce poverty.