(VOVworld) - The World Bank’s Board of Executive Directors on Wednesday approved a US$200 million loan and 70 million USD credit to the Government of Vietnam to support its power sector reforms, climate change resilience, and lower carbon intensity development.

Victoria Kwakwa, the World Bank Country Director for Vietnam, said these two operations would contribute to Vietnam’s efforts to move towards more environmentally sustainable growth, as envisaged in the Socio-economic Development Plan for 2011-2015. Vietnam is one of the countries most vulnerable to climate change. Natural disasters and sea-level rises already have had significant economic and human costs, with natural disasters alone costing as much as 1.5 percent of global domestic product per year.