Nhan Dan - The State Bank of Vietnam (SBV) and the World Bank (WB) yesterday signed the credit agreement for the WB’s biggest ever loan to Vietnam, also the first from its International Bank for Reconstruction and Development (IBRD).

The US$500 million loan has a twenty five year repayment term, with a ten year grace period

The main objectives of the loan consists of two items and this is the first item which support a series of policy measures that are expected to strengthen the public investment in Vietnam.

Key objectives of the operations are to lay a foundation for a fully functioning legal framework for the effective management of public investment, strengthen the project cycles and improve transparency, supervision and oversight.