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 tw🌄o credit agreements were signed in Hanoi on July 9 betweenrepresentatives from the State Bank of Vietnam (SBV) and the World Bank(WB).
The credit for Programme 135 (P135), worth 100 million USD, has aduration of 40 years, including a 10-year grace period at an interestrate of zero percent. The loan is part o꧙f the WB’s assistance programmeearmarked for the Government’s P135 Phase 2.
The WB earlier provided 50 million USD and expects to lend an additional 100 million USD later t💦his year to the programme.
In addition to the WB, the programme drew other donors from theGovernments of Australia, Finland, Ireland anღd the United Kingdom witha total 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 impleme🀅ntation, 700 of the total 2,400 targetedcommunes are above the poverty line.
Applauding Vietnam’s a🅘chievements i꧟n poverty reduction, WB countrydirector Victoria Kwakwa 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 a🐻ccess activities, she said.
Since last July, the WB ha🍸s 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 commitment to the country’sdevelopment.
The WB is also providi𓆏n♒g 200 million USD in additional financing for the ongoing Rural Energy II project.
The project is to provide good quality,🗹 affordable electricity topeople 🧸living in rural areas, contributing to the country’ssocio-economic development programme.
The project covers the upgrade and expansion of the low-tensionelectricity network in 1,200 rural communes and the medium-tensionnetwork in the northern, central and southerꦬn regions, as well as thedevelopment of policies, enhancement of management capacity, and theprovision of electric🐷ity to local power distributors.
|
The project has a total in investment capital of 250.6 million USD, towhich Vietnam contributes 50.6 milli💫on USD. It will be carried out in25 provinces from now to 2014.
Earlier𝓀, the WB also provided 300 million USD to two other projects,the🐓 Rural Energy I Project and the Rural Electricity TransmissionProject./.
The tw🌄o credit agreements were signed in Hanoi on July 9 betweenrepresentatives from the State Bank of Vietnam (SBV) and the World Bank(WB).
The credit for Programme 135 (P135), worth 100 million USD, has aduration of 40 years, including a 10-year grace period at an interestrate of zero percent. The loan is part o꧙f the WB’s assistance programmeearmarked for the Government’s P135 Phase 2.
The WB earlier provided 50 million USD and expects to lend an additional 100 million USD later t💦his year to the programme.
In addition to the WB, the programme drew other donors from theGovernments of Australia, Finland, Ireland anღd the United Kingdom witha total 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 impleme🀅ntation, 700 of the total 2,400 targetedcommunes are above the poverty line.
Applauding Vietnam’s a🅘chievements i꧟n poverty reduction, WB countrydirector Victoria Kwakwa 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 a🐻ccess activities, she said.
Since last July, the WB ha🍸s 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 commitment to the country’sdevelopment.
The WB is also providi𓆏n♒g 200 million USD in additional financing for the ongoing Rural Energy II project.
The project is to provide good quality,🗹 affordable electricity topeople 🧸living in rural areas, contributing to the country’ssocio-economic development programme.
The project covers the upgrade and expansion of the low-tensionelectricity network in 1,200 rural communes and the medium-tensionnetwork in the northern, central and southerꦬn regions, as well as thedevelopment of policies, enhancement of management capacity, and theprovision of electric🐷ity to local power distributors.
|
The project has a total in investment capital of 250.6 million USD, towhich Vietnam contributes 50.6 milli💫on USD. It will be carried out in25 provinces from now to 2014.
Earlier𝓀, the WB also provided 300 million USD to two other projects,the🐓 Rural Energy I Project and the Rural Electricity TransmissionProject./.
