Home >> Daily News >> Vietnam News >> Global lender extends $177m loan to Vietnam
|25 June 2009
Global lender extends $177m loan to Vietnam
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The World Bank said Wednesday it has approved a $177 million loan to support development of Vietnam's education system, the Dow Jones newswire reported.
The bank was quoted as saying that $50 million of the loan will be used to fund the country's Higher Education Development Policy Program that helps universities and colleges to have greater managerial autonomy and provide higher quality service.
The remaining $127 million will be used to fund the School Education Quality Assurance Program, which pays attention to disadvantaged primary education students by supporting the government's full-day schooling reform program, the World Bank said.
The financial institution will provide support to improve policy framework, human resources and school facilities related to the program, it added.
"The approval will help Vietnam finance education reforms critical to the country's future competitiveness." said Victoria Kwakwa, the World Bank's Country Director for Vietnam.
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