World Bank ready to lend Vietnam US$11 billion in 5 years
Funds should be allocated to major transformative projects to maximize the efficiency of the investment and streamline procedures.
Funds should be allocated to major transformative projects to maximize the efficiency of the investment and streamline procedures.
Read the Hanoi Times for the latest news on Vietnam.
Vietnam is the first country in the Asia-Pacific region to receive payments based on emissions reduction results from the World Bank's Forest Carbon Partnership Fund.
Vietnam becomes the first country in the East Asia Pacific region to receive a results-based payment from the World Bank’s Forest Carbon Partnership Facility (FCPF).
Manufacturing continues to be the main sector attracting FDI into Vietnam.
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.
A challenging external environment and weaker domestic demand are leading to a slowdown in economic growth in Vietnam.
Reforms supported by this credit will strengthen Vietnam's ongoing recovery from the Covid-19 pandemic and subsequent commodity price shocks.
The partnership, valued at AUD95 million (US$64 million), started in Vietnam in 2012 and will now continue until 2026.
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.