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July 31, 2008

Vietnam: World Bank extends $150mn for reforms
The World Bank has loaned Vietnam 150 million dollars for a range of projects in business development, social programmes, natural resources management and modern governance, AFP

quoted the bank as saying Wednesday.

Twelve donors are expected to co-finance the seventh Poverty Reduction Support Credit to bring the total amount channeled to the government budget close to $370 million, the

Washington-based lender said in a statement.

"Providing long-term finance is important in these difficult times, when the trade deficit of Vietnam is still large and there is considerable turmoil in world financial markets," said the

bank's acting country chief Martin Rama.

"Together with the generous co-financing provided by other donors, this credit will help the government succeed in its efforts to stabilise the economy and attain the goals of the Social

Economic Development Plan 2006-2010."

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