The World Bank and Vietnam on Monday signed agreements under which the country will get $371 million in loans and grants to support its economic competitiveness, green growth and water management.

The bank, Switzerland and Canada will give a combined $162 million loan and grant mixture to boost Vietnam's financial sector stability, reform state-owned enterprises and improve the business environment, the bank said in a statement.

Separately, Vietnam will borrow $90 million from the World Bank to support its climate change and green growth policy actions and $119 million for urban water supply and wastewater treatment project, the statement said.