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 agreꩵements were signed in Hanoi on July 9 betweenrepresentatives from the State Bank of Vietnam (SB♏V) and the World Bank(WB).
The credit for Programme 135 ꧑(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 of the WB’s assistance programmeearmarked for the Govไernment’s P135 Phase 2.
The WB earlier provided 50 million USD and expects to lend an additional 100 million USD later this year𝔍 to the programme.
In addition to the WB, the programme drew other donors from theGovernments of Australia, Finland, Ireland and the United Kingdom witha total in assistance 🌱of 100 million USD.
P135 is the core of the National Poverty Reduction Programme, SBVGoverno♌r Nguyen Van Giau said at the signing ceremony, adding thatafter seven years of i🧔mplementation, 700 of the total 2,400 targetedcommunes are above the poverty line.
Applauding Vietnam’s a𒁃chievements in poverty reduction, WB countrydirector Victoria Kwakwa stressed the bank’s support of th🔯e country’sprogrammes, particularly in mountainous and ethnic minority areas.
The credit will assist poverty reduction in 44 localities thr🍸ough investment access activities, she said.
Since last July, the WB has committed to providing 1.5 bil𒀰lion USD toVietnam , she said, describing it as a sign of the bank’s closecooperation with Vietnam and its strong commitment to the country’sdevelo🍃pment.
The WB is also providing 200 million USD in additional financing for t🉐he ongoing Rural Energy II project.
The project is to provide good quality, affordable electricity topeople living in rural areas, contribu🎉ting 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 southern regions, as well as thedevelopment of policies, enhancement of management capacity, and theprovision of electricity to local ꦺpowe♈r distributors.
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The project has a total in inves♑tme🥀nt 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 tw💟o ꦫother projects,the Rural Energy I Project and the Rural Electricity TransmissionProject./.
The two credit agreꩵements were signed in Hanoi on July 9 betweenrepresentatives from the State Bank of Vietnam (SB♏V) and the World Bank(WB).
The credit for Programme 135 ꧑(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 of the WB’s assistance programmeearmarked for the Govไernment’s P135 Phase 2.
The WB earlier provided 50 million USD and expects to lend an additional 100 million USD later this year𝔍 to the programme.
In addition to the WB, the programme drew other donors from theGovernments of Australia, Finland, Ireland and the United Kingdom witha total in assistance 🌱of 100 million USD.
P135 is the core of the National Poverty Reduction Programme, SBVGoverno♌r Nguyen Van Giau said at the signing ceremony, adding thatafter seven years of i🧔mplementation, 700 of the total 2,400 targetedcommunes are above the poverty line.
Applauding Vietnam’s a𒁃chievements in poverty reduction, WB countrydirector Victoria Kwakwa stressed the bank’s support of th🔯e country’sprogrammes, particularly in mountainous and ethnic minority areas.
The credit will assist poverty reduction in 44 localities thr🍸ough investment access activities, she said.
Since last July, the WB has committed to providing 1.5 bil𒀰lion USD toVietnam , she said, describing it as a sign of the bank’s closecooperation with Vietnam and its strong commitment to the country’sdevelo🍃pment.
The WB is also providing 200 million USD in additional financing for t🉐he ongoing Rural Energy II project.
The project is to provide good quality, affordable electricity topeople living in rural areas, contribu🎉ting 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 southern regions, as well as thedevelopment of policies, enhancement of management capacity, and theprovision of electricity to local ꦺpowe♈r distributors.
|
The project has a total in inves♑tme🥀nt 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 tw💟o ꦫother projects,the Rural Energy I Project and the Rural Electricity TransmissionProject./.
