WB approves $500m credit for VN reform

The World Bank yesterday approved a total of US$500 million credit for Viet Nam.

The first $250 million credit will support Viet Nam's economic management reforms. It will focus specifically on strengthening financial-sector governance, public administration and the management of State Owned Enterprises (SOEs).

"The programme supports reforms that should help address some of the binding constraints to private sector investment," said Victoria Kwakwa,World Bank director for Viet Nam. "Promoting a stronger role for the private sector in the economy is critical for Viet Nam's future growth."

In addition, another $250 million credit was also approved yesterday to help seven cities in the northern mountains strengthen their capacity as "engines of regional economic growth".

Cities participating in the programme will receive funds to enhance their management capacity and to develop local infrastructure, including roads, bridges and drainage, as well as for upgrading low-income areas.

The Ministry of Construction will co-ordinate and oversee the works and provide technical assistance to cities paqrticipating.


Other news


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

STK to issue 10.8million shares

The shareholders of Century Synthetic Fiber Corp (code: STK) have approved plan to issue 10.8 million shares.