HCMC – Deputy Prime Minister Ho Duc Phoc has called for the World Bank (WB) to expand its support for Vietnam in strategic infrastructure, clean energy, urban development, and climate adaptation projects.
The request was made during his meeting on November 25 with Carlos Felipe Jaramillo, World Bank Vice President for the East Asia and Pacific (EAP) Region, according to the Vietnam News Agency.
Phoc asked the WB to strengthen cooperation in areas where the global lender has expertise and Vietnam faces pressing needs. These include logistics, digital transformation, data governance, and climate-resilient development. He also proposed expanding ODA and concessional financing, along with new development financing models for transport and coastal adaptation projects. Vietnam is seeking more climate-related lending based on the “climate co-benefits” approach, he added.
Regarding WB-funded projects in Vietnam, the deputy PM called on the WB to apply more flexible standards for procurement, environmental and social requirements, as well as to consider suitable interest rates for certain loans. He also asked for greater flexibility in resolving policy-related differences to accelerate project implementation.
Both sides discussed measures to speed up reforms, shorten administrative procedures, and mobilize capital for large-scale projects through public–private financing. They also exchanged views on high-tech applications in infrastructure, climate response, and solutions to erosion, subsidence, salinity intrusion, and flooding in the Mekong Delta and HCMC.
Since 1993, the World Bank has remained one of Vietnam’s largest development partners. By the end of 2024, it had financed 180 programs and projects with more than US$26 billion in total commitments, including around US$23 billion in signed loans. These projects have supported Vietnam’s development, particularly in infrastructure and technical assistance for treasury and banking reforms.
