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Vietnam considers WB an important partner: Deputy PM

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HCMC – The Vietnamese Government always considers the World Bank (WB) as an important development partner as many projects funded by the global lender as well as its policy consultation have contributed significantly to the country’s socioeconomic development, stated Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh.

At an online working session with WB Managing Director of Operations Axel van Trotsenburg on November 4, Deputy PM Minh admitted that Vietnam treasures and appreciates the valuable and effective support of the WB and Trotsenburg to the country over the past period, Vietnamplus news site reported.

The deputy prime minister hoped the WB would continue offering financial aid for Vietnam and supporting the country in policy formulation in the future, particularly in building the socioeconomic development plan and the mid-term public investment plan for the 2021-2025 period.

The Vietnamese Government will continue coordinating with the WB to review and update the country partnership framework between Vietnam and the WB in 2018-2021 to balance the situation, especially in the context of the Covid-19 pandemic, while proposing a development partnership framework for 2022-2025, he added.

Deputy PM Minh hailed the WB’s initiatives to support countries in the fight against Covid-19, including non-refundable aid worth US$6.2 million for Vietnam, and suggested the bank provide more resources to the country to combat the pandemic.

He also proposed the WB closely cooperate with Vietnamese ministries and agencies to remove bottlenecks in the disbursement of loans of the bank and other sponsors.

Due to the increasing energy demand, Vietnam expects to receive more support from the WB through specific projects, focusing on efficient energy distribution, transmission network expansion and access to power in disadvantaged areas.

Trotsenburg expressed his sympathies to Vietnam over the losses caused by the recent floods in the central region and lauded the country’s efforts in controlling Covid-19 while maintaining economic growth.

He affirmed that the relationship between Vietnam and the WB has been developing steadily, adding that the WB is willing to support and cooperate with Vietnam in various sectors, such as climate change response and renewable energy.

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