Vietnam to borrow $2bln from World Bank, France, Germany for Mekong Delta Development

Mekong Delta is Vietnam's largest rice growing area

  
A seller displays rice bags for sale at a store. Image used for illustrative purpose.

A seller displays rice bags for sale at a store. Image used for illustrative purpose.

REUTERS/Kham

HANOI- Vietnam will borrow $2 billion from the World Bank, France and Germany for the development of its Mekong Delta region, Prime Minister Nguyen Xuan Phuc said on Wednesday.

Phuc has asked the Ministry of Planning and Investment to complete a master plan for the development of the region, with specifics on projects that need funding, the government said in a statement.

It didn't specify whether it would issue bonds or take commercial loans, or give a timeframe for the borrowing.

"Developing the Mekong Delta is an urgent and difficult task that needs resources, funding and solutions," the government said.

Mekong Delta is Vietnam's largest rice growing area, but the region is threatened by climate change, with rising seawater levels and the intrusion of saltwater.

(Reporting by Khanh Vu; Editing by Catherine Evans and Gareth Jones) ((khanh.vu@thomsonreuters.com; +84 24 38259623;))


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