The World Bank approved on Mar. 22 a total of 522 USD million in creditfor the development of Vietnam's urban, energy, and forest sectors.
Three projects receiving the funds include the CuuLong (Mekong) Delta Region Urban Upgrading Project; the Second PowerSector Reform Development Policy Operation; and the Forest SectorDevelopment Project - Additional Financing.
Allthree projects support the World Bank's new Country Partnership Strategy(2011-2016) for Vietnam , the bank said in a press release.
"The approval of the three operations demonstrates the continuedstrong partnership between Vietnam and the World Bank,” said VictoriaKwakwa, World Bank Country Director for Vietnam .
She saidthese credits help address emerging challenges such as rapidurbanisation, the need for an efficient power sector to meet thecountry’s rapidly growing demand, andthe importance of sustainable management of the national forestresources to help move rural communities out of poverty.
The CuuLong (Mekong) Delta Region Urban Upgrading Project will improveinfrastructure and services for more than 1.5 million people in the CuuLong (Mekong) Delta cities of Can Tho, My Tho, Cao Lanh, Ca Mau, RachGia, and Tra Vinh.
The bank's International Development Association (IDA) will fund this project with 292 million USD.
The Second Power Sector Reform Development Policy Operation is one ofthree policy operations that support the Government in implementingreforms in the power sector to facilitate and promote effectivecompetition in power generation; transparency and predictability inelectricity pricing and tariffs; encourage investment in powergeneration; and implement programmes and incentives for efficient use ofelectricity.
For this operation, the Bank provides200 million USD, half of which comes from IDA, and the other half fromthe International Bank for Reconstruction and Development.
The Forest Sector Development Project aims to promote sustainablesmallholder plantation forestry to help raise rural incomes and supportbiodiversity conservation across Vietnam 's priority conservationareas.
The project supports the National ForestryStrategy through restoring and increasing forest cover, promotingmarket-based approaches to forestry, increasing roles andresponsibilities of local forest owners, strengthening protected areasmanagement and conserving biodiversity with the involvement of localcommunities.
Under the Additional Financingoperation, IDA will provide an additional 30 million USD over threeyears to the project covering six provinces in the central coastalregion of Vietnam .-VNA
Three projects receiving the funds include the CuuLong (Mekong) Delta Region Urban Upgrading Project; the Second PowerSector Reform Development Policy Operation; and the Forest SectorDevelopment Project - Additional Financing.
Allthree projects support the World Bank's new Country Partnership Strategy(2011-2016) for Vietnam , the bank said in a press release.
"The approval of the three operations demonstrates the continuedstrong partnership between Vietnam and the World Bank,” said VictoriaKwakwa, World Bank Country Director for Vietnam .
She saidthese credits help address emerging challenges such as rapidurbanisation, the need for an efficient power sector to meet thecountry’s rapidly growing demand, andthe importance of sustainable management of the national forestresources to help move rural communities out of poverty.
The CuuLong (Mekong) Delta Region Urban Upgrading Project will improveinfrastructure and services for more than 1.5 million people in the CuuLong (Mekong) Delta cities of Can Tho, My Tho, Cao Lanh, Ca Mau, RachGia, and Tra Vinh.
The bank's International Development Association (IDA) will fund this project with 292 million USD.
The Second Power Sector Reform Development Policy Operation is one ofthree policy operations that support the Government in implementingreforms in the power sector to facilitate and promote effectivecompetition in power generation; transparency and predictability inelectricity pricing and tariffs; encourage investment in powergeneration; and implement programmes and incentives for efficient use ofelectricity.
For this operation, the Bank provides200 million USD, half of which comes from IDA, and the other half fromthe International Bank for Reconstruction and Development.
The Forest Sector Development Project aims to promote sustainablesmallholder plantation forestry to help raise rural incomes and supportbiodiversity conservation across Vietnam 's priority conservationareas.
The project supports the National ForestryStrategy through restoring and increasing forest cover, promotingmarket-based approaches to forestry, increasing roles andresponsibilities of local forest owners, strengthening protected areasmanagement and conserving biodiversity with the involvement of localcommunities.
Under the Additional Financingoperation, IDA will provide an additional 30 million USD over threeyears to the project covering six provinces in the central coastalregion of Vietnam .-VNA
