HCMC – The World Bank (WB) has reaffirmed its commitment to supporting Vietnam in its pursuit of becoming a high-income nation by 2045.
The pledge was made during a meeting today, November 20, between Vietnamese Deputy Prime Minister and Foreign Minister Bui Thanh Son and World Bank Managing Director Manuela V. Ferro, reported the Vietnam Government Portal.
Ferro highlighted the WB’s readiness to collaborate with Vietnam on various projects and initiatives to achieve this target. Becoming a high-income country would open up new opportunities for Vietnam to access international capital, thereby accelerating its development, she added.
Deputy PM Son emphasized Vietnam’s appreciation for the WB’s role in the country’s socioeconomic development. He expressed Vietnam’s commitment to strengthening the partnership, focusing on areas such as green growth, digital transformation, and circular economy.
Son called for closer cooperation between the two sides to address challenges faced by ongoing projects, including the Mekong Delta climate resilience project, the renewable energy acceleration project, and the project for one million hectares of high-quality and low-emission rice.
The Deputy PM welcomed the WB’s proposal for a US$11 billion loan, targeting priority areas like infrastructure, renewable energy, and agriculture.
To enhance the effectiveness of cooperation, the Vietnamese Government requested that the WB simplify administrative procedures and adopt more flexible coordination mechanisms in project implementation.
Son suggested that the WB collaborate to finalize the Country Partnership Framework (CPF), taking into account various inputs to set cooperation priorities for the next three years.
