The funds are aimed at supporting Vietnam’s agricultural development, green transport and poverty reduction.
The signatories were Nguyen Van Binh, Governor of the State Bank of Vietnam (SBV), and Axel Van Trotsenburg, WB Vice President for East Asia and Pacific. The four projects include one on sustainable agriculture worth US$238 million, which will help implement a restructuring plan of the agricultural sector.
US$45 million has also been earmarked for livestock competitiveness and food safety, and is expected to benefit about 24,000 households.
Meanwhile, a US$124-million project to develop green transport in Ho Chi Minh City is expected to develop and increase the efficiency of the public transport system in order to improve urban planning, protect the environment and lift the living standards of people in the city. The money will be invested in building a 23km-long express bus route.
The WB Vice President highlighted the significance of the projects, affirming that the WB continually supports Vietnam in its development process.
Vietnam is one of the countries receiving most from the bank’s International Development Association (IDA), he said, adding that the WB wishes to continue its contributions to poverty reduction and sustainable development in the country, and is willing to share experience with the country during the development process./.
