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| September 4, 2002 |
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| World Bank Pledges $3 Billion for Vietnam |
WASHINGTON - September 4, 2002. The World Bank has approved $3 billion in assistance to Vietnam over the next four years.
The decision was made today in a meeting of World Bank executive directors to discuss the Bank's strategy for Vietnam between 2003 and 2006.
The program provides a lending program of $300 - 760 million a year in support of poverty reduction efforts, focusing on rural and urban development, infrastructure, and human development. The World Bank's new assistance program is designed to support the Vietnamese government's poverty reduction and growth strategy.
"This is the second largest international development assistance program in the world after India, (which) reflects the extraordinary potential and opportunities in Vietnam," stated Andrew Steer, The World Bank's Vietnam Country Director. |
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