Prime Minister Nguyen Tan Dung has welcomed a World Bank loan to the government’s “Program 135: Phase 2 Development Policy Support Operation”. While the Governor of the State Bank of Vietnam would be responsible for signing all relevant agreements with WB representatives on behalf of the Prime Minister, relevant authorities including the Finance Ministry and the National Committee for Ethnic Minorities have been called upon to design mechanisms for effectively utilizing the loan. Last month, the World Bank's Board of Executive Directors approved an interest free loan, worth $50 million, in support of Vietnam's efforts to reduce poverty and boost development in 4164 disadvantaged and remote communes and hamlets. (Vietnam News May 23)
