WB supports 400 million USD in credit for Vietnam
On the afternoon of May 14, the State Bank of Vietnam and the World Bank (WB) signed three credit agreements worth a total of 400 million USD to help Vietnam reform economic management, support the implementation of the Higher Education Reform program, and enhance school readiness of 5-year-old children.
On the afternoon of May 14, the State Bank of Vietnam and the World Bank (WB) signed three credit agreements worth a total of 400 million USD to help Vietnam reform economic management, support the implementation of the Higher Education Reform program, and enhance school readiness of 5-year-old children.
WB supports 400 million USD for Vietnam. Photo: VGP/Huy Thang
Accordingly, the first Economic Management and Competitiveness Support Credit (EMCC 1) will provide US$250 million in concessional finance to support reforms in seven policy areas, including: Financial sector; Fiscal policy; Public administration and accountability; State-owned enterprise management; Public investment management; Business environment efficiency; Equality and transparency of the business environment.
The second credit of US$50 million for the “Higher Education Development Policy Programme – Phase 3” will be used to support the implementation of the Government’s higher education reform programmes with policies to strengthen governance, finance and quality of higher education.
In particular, the credit supports efforts to improve the responsiveness of higher education and research capacity; enhance financial transparency, sustainability and efficiency of higher education, and enhance the quality of higher education institutions.
The project “Enhancing School Readiness for Preschool Children” aims to enhance school readiness for children preparing to enter primary school, especially those at risk of having difficulties in succeeding in the learning environment. This project, with a total value of 100 million USD, will support a number of selected targets from Vietnam’s national program on “Universal preschool education for 5-year-old children in the period 2010-2015” (Decree 239). In particular, the project supports efforts to expand the full-day preschool program, improve capacity to ensure the quality of preschool education, and strengthen the expertise of preschool teachers and principals.
At the signing ceremony, Ms. Victoria Kwakwa, Country Director of the World Bank in Vietnam, congratulated the Government on its efforts to stabilize the economy over the past 18 months. At the same time, Ms. Victoria Kwakwa affirmed: It is necessary to continue these efforts, as well as to accelerate the implementation of structural reform programs. The EMCC is designed to promote partnerships with the Government to support the restructuring of state-owned enterprises, public investment and the banking sector.
According to (Chinhphu.vn) - LT