The executive board of the World Bank (WB) has approved a credit worth $457 million for Vietnam to help the country implement three development projects, state media reported. The first $210 million project will provide people in Lao Cai, Phu Ly and Vinh cities with better access to improved public services. The other $97 million will help rural communities access their markets and provide non-agricultural economic opportunities and social services, while the last $150 million will support Vietnam in maintaining reforms towards becoming a middle income country. The loan has a term of 25 years, with payment to start five years after the projects are implemented. WB has provided Vietnam with non-refundable aid, preferential credits and loans worth $13.5 billion so far to help the country in its national development. It has pledged $2 billion in official development assistance (ODA) for Vietnam next year. WB is now preparing its next Country Partnership Strategy to step up engagement with Vietnam in the next five years to support implementation of the socio-economic development plan 2011-2016. (Cong an Nhan dan –People’s Police Dec 19 p1, Phap luat Vietnam – Vietnam Law Dec 19 p2, Vietnam News Dec 19 p2)
