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Section: General News - The World Bank will provide an additional 160 million USD in no-interest credit for an urban upgrade project in Vietnam through 2014.
Under an agreement signed between the State Bank Governor Nguyen Van Giau and WB Country Director for Vietnam Victoria Kwakwa in Hanoi on Sept. 10, the credit will cover a financing gap, resulting from high levels of inflation in 2007-2008, for projects in the southern city of Can Tho, the northern city of Hai Phong, northern Nam Dinh province and Ho Chi Minh city.
The financing in Ho Chi Minh City will also finance improvement of the Tan Hoa-Lo Gom Canal, one of the lowest income areas in the city.
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