PM calls on WB, IFC to support Việt Nam’s large-scale infrastructure projects

Wednesday, Nov 15, 2023 09:21

Prime Minister Phạm Minh Chính meets World Bank Regional Vice President for East Asia and Pacific Manuela V. Ferro. — VNA/VNS Photo Dương Giang

Prime Minister Phạm Minh Chính received World Bank (WB) Regional Vice President for East Asia and Pacific Manuela V. Ferro, International Finance Corporation (IFC) Regional Vice President for Asia and the Pacific Riccardo Puliti, and IFC Vice President and Treasurer John Gandolfo in Hà Nội on November 14.

The PM affirmed that the Vietnamese Government considers the WB and IFC crucial development partners, which have supported and contributed to the nation’s socio-economic development through policy advice and financial assistance for ODA projects, preferential loans and loans for the private sector.

He proposed the sides refresh their cooperation activities with new approaches on a larger scale and enhancing public-private partnerships. Chính recommended the WB focus its funds with the lowest interest rates on critical and large-scale projects in Việt Nam, including those in the sectors of transport, urban development, digital transformation, energy and Mekong Delta climate change response.

For her part, Ferro affirmed that the WB will continue to accompany and assist Việt Nam in achieving its goal of becoming a developed, high-income country by 2045. She underscored that, given the global challenges and difficulties, both sides need to exert greater efforts for the WB to continue contributing to Việt Nam's development progress.

Highly agreeing with the PM’s opinions, she lauded the country’s commitments and efforts toward sustainable development and climate change adaptation. She told the host that the WB is actively coordinating with Vietnamese ministries and sectors to identify key projects for future collaboration, with best interest rates considered for the above-said areas highlighted by the Government leader.

Talking to IFC leaders, Chính asked the IFC to continue to offer Việt Nam resources and investments, particularly in setting up funds serving the development of the private sector in emerging and high-tech fields such as semiconductors, clean energy, and electric vehicles.

The IFC leaders said they are committed to further support Việt Nam, especially in promoting its strong development of private enterprises and attraction of top investors. — VNS

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