Loans

Under agreements signed between the WB and the State Bank of Vietnam here Thursday, the WB will provide a preferential credit of US$20 million for the project. The European Union will grant 10 million dollars, Japan US$5 million, and Vietnam provides reciprocal capital of US$3 million.

The Asian Development Bank (ADB) will grant three credits of 111 million U.S. dollars to Vietnam, mainly helping the country reduce poverty, rehabilitate and improve infrastructure in 10 provinces severely affected by natural disasters in 2005.

Mr de Paula Coelho praised “the cooperation of Vietnam’s Ministry of Finance” and stressed that “the framework loan will make long-term loans at attractive interest rates available to support renewable energy and energy efficiency projects, a priority for the ... This is the EIB’s fifth operation in Vietnam,

Japan has frozen low-interest loans to Vietnam until it takes “meaningful” steps to eliminate corruption in public works programs, Tokyo’s ambassador said Thursday. ... In all, Japan pledged US$1.1 billion in low-interest development loans to Vietnam last year.