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The majority of the loan will be poured into green transition, in which the World Bank is one of the biggest lenders.

Vietnam's public debt, government debt, and state budget deficit are well managed and remain within acceptable limits, allowing room for new ODA loans.

This comprehensive approach aims to transform the city's landscape, enhance the quality of life for its residents, and align with global trends in clean energy conversion and digital transformation.

The World Bank fully supports Vietnam’s strategic directions and expects future cooperation to bring about transformational changes in the country’s development over the next decade.

The World Bank would share experience and enhance capacity building to help Vietnam establish the necessary regulatory framework and implement projects that promote sustainable development.

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045.

Better law-making would help Vietnam better adapt to changes in the region and the world.

The disbursement of approved FDI projects increased by 8.7% year-on-year in March, the fourth month of increase as post-Covid-19 lockdown constraints ease.

For Vietnam to achieve the transformation it aspires to, accelerating a shift to productivity-led growth will be essential.

In the medium term, Vietnam’s vision to become an upper-middle-income economy will depend on its ability to evolve from its current growth model to productivity and innovation-led growth model.

The two sides are expected to continue working on major projects with high spillover effects, including transport infrastructure, healthcare, education, climate change resilience, and digitalization.

The city is seeking investment capital sources for ongoing transport projects, which open doors to donors such as World Bank.

A sharp rise in all major mobility indicators was thanks to the high vaccination coverage of 73% of the population.

Upcoming monetary-fiscal support programs may put Vietnam in the position to become a high-income country in the 2045-2050 period.

The US$221.5-million-credit is a budget support operation and comes in the form of concessional terms for a period of 30 years with a grace period of five years.

Vigilance in social distancing, testing, and quarantining is important to avoid a new wave of infections affecting lives and forcing new restrictive measures.