World Bank Pledges to Fund $2B for Vietnam This Year: James Adams
The World Bank will provide credits worth $2 billion for Vietnam this year, Vice President of the WB James Adams told Governor Nguyen Van Giau of the State Bank of Vietnam in Hanoi on February 2.
Vietnam should complete the legal framework to speed up the implementation of investment projects, James Adams urged, adding the WB will help the Southeast Asian country gain access to other financial services including investments and lending guarantee.
The World Bank financed $500 million for the country in 2009 to help weather effects from the global economic downturn.
At the Consultative Group (CG) meeting in late 2009, foreign donors pledge a total of $8.063 billion in development aid for Vietnam this year with the World Bank taking the lead with its pledged $2.498 billion. (SBV)
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