Vietnam seeks World Bank support to strengthen economic resilience

Hai Yen

Sep 08, 2023 / 02:31 PM

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.

Vietnam would continue to seek capital support and expertise from the World Bank in boosting economic and climate resilience for sustainable growth.

Prime Minister Pham Minh Chinh and World Bank President Ajay Banga. Photo: Nhat Bac

Prime Minister Pham Minh Chinh underscored this view during a meeting with World Bank President Ajay Banga on September 7, taking place on the sidelines of the 43rd ASEAN Summit in Jakarta.

During the meeting, Chinh congratulated Banga on his appointment as the President of the World Bank for the 2023-2028 term. He expressed his confidence that under Banga's leadership, the World Bank would continue to grow and successfully fulfill its missions.

The Prime Minister highly appreciated the World Bank's support and partnership with Vietnam in various aspects of socio-economic development, particularly in poverty alleviation, gender equality, assistance for remote areas, and agricultural development.

He reiterated Vietnam's commitment to value and seek continued active and effective support from the World Bank.

The World Bank President conveyed his admiration for Vietnam's remarkable development progress and underscored the significance of ASEAN's role in the current global landscape.

Regarding future collaboration, Prime Minister Pham Minh Chinh proposed that the World Bank continue its partnership with Vietnam, highlighting four key areas: infrastructure development and logistics capacity, the transition to and development of green and renewable energy, addressing challenges in the Mekong Delta such as subsidence, landslides, inundation, and agricultural development, and promoting innovation and digital transformation.

Banga expressed his deep appreciation for and alignment with the Prime Minister's strategic directions. He affirmed that these priority areas of cooperation would usher in transformative changes in Vietnam's development over the next decade and that the World Bank is fully prepared to support Vietnam in the realization of these ambitious goals.

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