The World Bank (WB) has committed loans and grants totaling 711 million U.S. dollars for development projects, mainly reform-related ones, in Vietnam during fiscal year 2007, local newspaper Saigon Liberation said on Thursday.
The money will be used to finance a new five-year strategy which focuses on the next generation of reforms needed to improve Vietnam's competitiveness and integration into the world economy while also attending to growing needs for good governance, modernized social protection systems, better environmental management and improved infrastructure, said the WB in the country.
The WB committed loans, grants and credits worth 4.3 billion dollars for development projects and operations in 10 countries in the East Asia and Pacific region, including China, Vietnam, Laos and Indonesia, during the fiscal year.
Source: Xinhua
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