Vietnam, WB Sign Agreement on Competitiveness, Climate Change Response

The World Bank (WB) and the State Bank of Vietnam (SBV) recently signed legal agreements for three projects, worth US$371 million in total, to support with economic competitiveness, climate change response and green growth, and water supply and waste water treatment.

 

The agreements signed cover Vietnam’s third economic management and competitiveness development policy financing, first climate change and green growth development policy financing, and additional financing for Vietnam urban water supply and wastewater project.

 

The third economic management and competitiveness development policy financing is concluding a series of three operations which reinforced key government steps to bolster financial sector stability, reform the SOE sector and create a better business climate. The climate change and green growth development policy financing of US$90 million is the first of a series of three operations to support climate change and green growth policy actions under the Vietnamese Government’s Support Programme to Respond to Climate Change. The US$50 million IDA credit and US$69 million IBRD loan of additional financing for urban water supply and wastewater project aims to support provision of more household connections in 10 cities across Vietnam.