The executive board of the World Bank (WB) on Dec. 16 approved a credit worth 457 million USD for Vietnam to help the country implement three development projects.

Of the total, 210 million USD will be spent on a project to enhance access to effective and sustainable infrastructure services in the northern cities of Lao Cai and Phu Ly and the central city of Vinh, 97 million USD on a project to help the government improve rural communities’ access to markets, non-agricultural economic opportunities and social services, and the rest on a poverty reduction project.

The loan has a term of 25 years, with payment to start five years after the projects are implemented./.