The World Bank (WB) and the Asian Development Bank (ADB) will strengthen support for nations in the Greater Mekong Sub-region (MGS) in the coming time.
The information was released by WB and ADB representatives at a seminar on GMS economic cooperation strategy, in Hanoi April 6.
“The WB will focus investment on such fields as water resource management, electricity trade, transport and human resources development,” WB Country Director Ian Porter said at the gathering, adding that the WB is also likely to assist GMS in the areas of environment, forestry, healthcare and risk management.
Also, Ayumi Konishi, ADB Country Director pledged loans and personnel support to GMS, and said ADB will coordinate with the WB to reduce risks arising during the implementation process of projects.
In 2007, the WB is expected to extend support to a project building electric grids between Cambodia and Vietnam, as well as between Cambodia and Laos, in addition to planning feasibility study for a high-voltage electric grid project connecting Vietnam with southern China.
The GMS includes Cambodia, Laos, Myanmar, Thailand, Vietnam and two Chinese provinces, Guangxi and Yunnan.
The WB on September 10, 2006 pledged US$800 million per year to Vietnam over the next five years. Meanwhile, ADB plans to fund Vietnam US$3 billion between 2007 and 2009, as part of its strategy supporting the country’s economic development plan. (Vietnam Economic Times, VNA)
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