World Bank pledges over US$ 500 million for VN

July 10, 2015 | 09:16

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Viet Nam and the the World Bank on July 9 signed four cooperation agreements under which the international institution pledged to provide US$507 million to assist Viet Nam in agricultural development, green transport and poverty reduction.

PM Nguyen Phu Trong witnesses the signing ceremony of the four agreement between the State Bank of Viet Nam and the World Bank. Photo: VNA

The agreements were signed by Governor of State Bank of Viet Nam Nguyen Van Binh and World Bank Vice President for East Asia Axel Van Trotsenburg on the occasion of Party leader’s ongoing visit to the U.S.

The funding will be steered to four projects namely sustainable agriculture transformation, stock competitiveness and food safety, the second phase of the poverty reduction project in the northern mountainous region, and green transport in Ho Chi Minh City.

Vice President Axel Van Trotsenburg highlighted the significance of the four projects, affirming World Bank’s active support for Viet Nam’s development process.

He said that Viet Nam is one of the biggest international development association recipients and the World Bank commits to its continued assistance for and experience-sharing with Viet Nam.

The same day, Party leader Trong visited the Vietnamese Embassy in the U.S where he stressed the historic importance of his official visit to the U.S.

He tasked the Embassy staff to strive for deepening the comprehensive partnership between Viet Nam and the U.S in order to create strategic posture on diplomacy with major partners./.

VGP

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