Vietnam

The World Bank will offer Vietnam a total grant of USD 1.2 billion in the 2009 fiscal year, Vietnam News Agency reported July 15. The grant, coming from the International Development Association ? will be used to fund 12 projects and programs that boost economic growth reduce inequalities and improve people?s living conditions in Vietnam. Mat Aron Deraman, Executive Director of the World Bank’s South East Asia region, announced the extent of support for the current fiscal year during a meeting Monday with Central Bank Governor Nguyen Van Giau, according to a statement. (Xinhua, Dow Jones)

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