World Bank Lends Vietnam $96 Million to Help Farmers
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HANOI, Vietnam — The World Bank has signed an agreement with Vietnam for a $96-million development loan to improve the country’s rural credit system and rubber production, an official report said Friday.
The loan is the bank’s third to Vietnam since international lending resumed last fall. The 40-year agricultural credit will carry a concessional interest rate, but the report from the state-run Vietnam News Agency did not specify the percentage.
International banks began again to lend to Vietnam following President Clinton’s decision in July to end U.S. opposition to such a step.
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