The World Bank will provide a total of300 million USD to aid the implementation of the second phase of apoverty reduction project and to increase rural access to electricity.
The two credit agreements were signed in Hanಞoi on July ♊9 betweenrepresentatives from the State Bank of Vietnam (SBV) and the World Bank(WB).
The credit for Programme 135 (P135), worth 100 ꦯmillion USD, has aduration of 40 years, including a 10-year grace period at an interestrate of zero percent. The loan is part of the WB’s assistance programmeearmarked for the Government’s P135 Phase 🌱2.
The W💧B earlier provided 50 million USD and expects to lend an additional 100 million USD later this year to the program🐟me.
In addition to the WB, the programme drew other do🍬nors from theGovernments of Australia, Finland, Ireland and the United Kingdom witha to🌺tal in assistance of 100 million USD.
P135 is the core of the National Poverty Reduction🐬 Programme, SBVGovernor Nguyen Van Giau said at the signing ceremony, adding🐎 thatafter seven years of implementation, 700 of the total 2,400 targetedcommunes are above the poverty line.
Applauding Vietnam’s achievements in pove൩rty reduction, WB countrydirector Victoria Kw🔴akwa stressed the bank’s support of the country’sprogrammes, particularly in mountainous and ethnic minority areas.
The credit will assist poverty reduction in 44 localities ✤through investment access activities, she said.
Since last July, the WB has committed to providing 1.5 billion USD toVietnam , she said, describing it as a sign of the bank’s closecooperation with Vietnam and its strong commit🏅ment to the country’sdevelopment.
The WB is also providing 200 million USD in additio🌸nal financing 🌱for the ongoing Rural Energy II project.
The project is to provide good 𒆙quality, affordable electricity topeople living in rural areas, contributing to the country’ssocio-economic development programme.
The proj🌸ect covers the upgrade and expansion of the low-tensionelectricity network in 1,200 rural communes and the medium-tensionnetwork in the northern, central and southern regions, as well as thedevelopment of policies, enhancement of m💯anagement capacity, and theprovision of electricity to local power distributors.
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The project has a total in investment capital of 250🍬.6 million USD, towhich Vietnam contributes 50.6 million USD. It will be carried out in25 provinces from now to 2014.
Earlier, the♓ WB also provided 300 million USD to two other projects,the Rural Energy I Project and the Rural Electricity TransmissionProject./.
The two credit agreements were signed in Hanಞoi on July ♊9 betweenrepresentatives from the State Bank of Vietnam (SBV) and the World Bank(WB).
The credit for Programme 135 (P135), worth 100 ꦯmillion USD, has aduration of 40 years, including a 10-year grace period at an interestrate of zero percent. The loan is part of the WB’s assistance programmeearmarked for the Government’s P135 Phase 🌱2.
The W💧B earlier provided 50 million USD and expects to lend an additional 100 million USD later this year to the program🐟me.
In addition to the WB, the programme drew other do🍬nors from theGovernments of Australia, Finland, Ireland and the United Kingdom witha to🌺tal in assistance of 100 million USD.
P135 is the core of the National Poverty Reduction🐬 Programme, SBVGovernor Nguyen Van Giau said at the signing ceremony, adding🐎 thatafter seven years of implementation, 700 of the total 2,400 targetedcommunes are above the poverty line.
Applauding Vietnam’s achievements in pove൩rty reduction, WB countrydirector Victoria Kw🔴akwa stressed the bank’s support of the country’sprogrammes, particularly in mountainous and ethnic minority areas.
The credit will assist poverty reduction in 44 localities ✤through investment access activities, she said.
Since last July, the WB has committed to providing 1.5 billion USD toVietnam , she said, describing it as a sign of the bank’s closecooperation with Vietnam and its strong commit🏅ment to the country’sdevelopment.
The WB is also providing 200 million USD in additio🌸nal financing 🌱for the ongoing Rural Energy II project.
The project is to provide good 𒆙quality, affordable electricity topeople living in rural areas, contributing to the country’ssocio-economic development programme.
The proj🌸ect covers the upgrade and expansion of the low-tensionelectricity network in 1,200 rural communes and the medium-tensionnetwork in the northern, central and southern regions, as well as thedevelopment of policies, enhancement of m💯anagement capacity, and theprovision of electricity to local power distributors.
|
The project has a total in investment capital of 250🍬.6 million USD, towhich Vietnam contributes 50.6 million USD. It will be carried out in25 provinces from now to 2014.
Earlier, the♓ WB also provided 300 million USD to two other projects,the Rural Energy I Project and the Rural Electricity TransmissionProject./.
