Vietnam Gets World Bank Backing For $800M Electricity Project

Law360, New York (November 8, 2012, 5:06 PM EST) -- Vietnam on Thursday inked a loan agreement with the World Bank and other foreign sources to cover the majority of an $800 million initiative to upgrade electricity services and distribution across the country and curb greenhouse gas emissions.

Under the terms, the World Bank will contribute $449 million, with $30 million coming from the Clean Investment Fund and $8 million from the Australian Agency for International Development, the bank said. The remaining $313 million chunk of the total price will be covered by the Vietnamese government....
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