6:42 PM, 05/11/2012
Natural disaster control project to be approved
VGP – The Government has proposed the State President ratify the Sponsorship Agreement for the Natural Disaster Risk Management Project, which is funded by the World Bank (WB).
The Sponsorship Agreement and related documents of the project were signed on September 13, 2012 by the Governor of the State Bank of Viet Nam and the representative of the WB.
Accordingly, the WB committed to providing a preferential loan of US$150 million for Viet Nam through the International Development Association (IDA) to improve the prevention, response and recovery, reduce human and property losses for some central coastal provinces as well as guarantee sustainable development and social stability.
With the interest rate of 1.25% per year, the loan period will last 25 years with the grace period of five years.
By Thuy Dung
