Vietnam: loans from World Bank to aid competitiveness

(AGI) - Hanoi, Jul 26 - The World Bank and Vietnam recently signed agreements under which the country will get $371 million in loans and grants to support its economic competitiveness, green growth and water management. "Vietnam is keen to strengthen economic competitiveness and achieve a more green and sustainable development path", said Victoria Kwakwa, the World Bank Vice President for East Asia Pacific region. "The World Bank is pleased to support the achievement of these priorities". World Bank, Switzerland and Canada will give a combined $162 million loan and grant mixture to boost Vietnam's financial sector stability, reform state-owned enterprises and improve the business environment, the bank said in a statement. Separately, Vietnam will borrow $90 million from the World Bank to support its climate change and green growth policy actions and $119 million for urban water supply and wastewater treatment project. (AGI) .