German bank funds power, healthcare projects in Vietnam

Pursuant to the agreements, the bank is going toprovide EUR120 million in loans for Vietnam to construct and upgrade its 110 kV power system and expand low-voltage and middle-voltage power systems in rural areas.

It is expected that this will reducepower loss and increaseelectricity quality and safety, ensuring an equal electricity service for customers in both rural and urban areas.

Meanwhile, EUR20 million is going to be spent ona project upgrading the capacity of provincial hospitals, which was launched in 2010.

The loan proceeds are to be used to provide necessary equipment to a number of hospitals in Thanh Hoa, Phu Yen and Yen Bai, and improve the management of waste in hospitals in Thanh Hoa, Phu Yen, Yen Bai, Thai Binh, Nghe An and the Vietnam-Germany Hospital in Hanoi.

The German Government, through the German Reconstruction Bank, is Vietnam's third largest bilateral donor after Japan and France.

(Source: Nhandannewspaperonline)