HCMC – Prime Minister Pham Minh Chinh has called on the World Bank (WB) to assist Vietnam in implementing major infrastructure projects and strategic development initiatives, including green and digital economy programs.
During a meeting in Hanoi today, May 15, with Mariam J. Sherman, WB country director for Vietnam, Laos, and Cambodia, Chinh asked the bank to reform its lending procedures and provide policy advice aligned with Vietnam’s strategic goals.
He highlighted the need for WB assistance in four key areas: green growth, digital transformation, circular economy, and enhancing economic competitiveness and resilience. He specifically requested funding for large-scale transportation and energy infrastructure projects, and support for the planned North-South high-speed railway project, which is expected to cost around US$67 billion and get off the ground in 2026.
Vietnam is seeking more than US$11 billion in WB loans over the next five years, with a focus on projects related to renewable energy, climate-resilient agriculture, and sustainable fisheries in the Mekong Delta, along with three key traffic routes in the region.
Sherman praised Vietnam’s achievements and reiterated the WB’s commitment to accompany Vietnam on its modernization journey. She expressed strong support for the proposed loan package and emphasized the importance of accelerating project preparation and implementation, particularly for priority sectors.
Chinh welcomed the bank’s loan proposal and reaffirmed the Government’s commitment to expediting public investment disbursement, especially in strategic infrastructure. He also requested continued WB support with preferential interest rates for projects in energy transition, sustainable agriculture, climate change adaptation, and private sector development.
Vietnam is working to streamline administrative processes and address institutional bottlenecks to align domestic regulations with development partner requirements. The Government has recently restructured the national steering committee for official development assistance (ODA) and concessional loans, and plans to convene a meeting with development partners, including the WB.
Chinh also proposed establishing a strategic partnership mechanism between Vietnam and the WB to deepen cooperation at the macro level, particularly in infrastructure development. He called for more frequent and open exchanges between the WB’s regional office and Vietnamese ministries and local authorities.
Sherman expressed strong agreement with the prime minister’s proposals and committed to reporting them to WB President Ajay Banga. She also pledged to explore more concessional financing sources and provide technical and policy advisory support to help Vietnam effectively implement projects funded by the WB and other development partners.
