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

Prime Minister Pham Minh Chinh (R) and World Bank (WB) Regional Vice President for East Asia and Pacific Manuela V. Ferro (Photo: VNA)

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. Chinh recommended the WB focus its funds with the lowest interest rates on critical and large-scale projects in Vietnam, 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 Vietnam 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 Vietnam'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, Chinh asked the IFC to continue to offer Vietnam 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 Vietnam, especially in promoting its strong development of private enterprises and attraction of top investors./.