WB helps Vietnam enhance public investment efficiency

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The World Bank and the State Bank of Vietnam signed Thursday a credit of US$100 million for a project to help Vietnam make its public investments more efficient.

The project, called Preparation Technical Assistance Facility Project, is expected to be implemented from October 2010 to October 2015, the Washington-based lender said in a statement.

Funding comes from the International Development Association, the World Bank's source of funding for low income countries.

Public investment in general, and infrastructure investment in particular, are frequently delayed in Vietnam, the World Bank said in the statement.

It said undisbursed Official Development Assistance was about $11 billion at the end of 2008, and that this could increase if project start-up delays are not substantially reduced.

Victoria Kwakwa, the World Bank Country Director for Vietnam said that the project would help accelerate project start-ups as well as disbursement by improving the speed and quality of preparatory work.

This, in turn, would "enable beneficiaries to quickly realize the economic and social benefits from investments supported through the project," she said.

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