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Prime Minister highlights World Bank aid role in Viet Nam

(VNA - 04/11/2011) - Prime Minister Nguyen Tan Dung highlighted the leading role of the World Bank (WB) in mobilising and regulating aid for Viet Nam at a celebration of the Viet Nam-WB partnership in Ha Noi on Nov. 4.

He said the WB has successfully acted as a bridge to increase mutual understanding between Viet Nam and donors, a channel to effectively organise aid for Viet Nam and a centre to harness joint efforts to implement projects and increase aid effectiveness in the spirit of the Paris Declaration and Ha Noi Core Statement on aid effectiveness.

According to the PM, Viet Nam has recorded important achievements in economic development and social progress over the two decades of renovation. The nation has moved from underdeveloped status to the group of middle-income countries with many millennium development goals (MDGs) fulfilled implemented, especially in poverty reduction, along with considerable improvements in the spiritual and material life of the people, greater international and regional integration and a greater role in the international arena.

PM Dung said WB-funded projects in Viet Nam have been implemented with an efficiency that made positive impacts to the country's socio-economic development and its international integration.

He said Viet Nam expects continuous WB support in its implementation of the 10-year socio-economic development strategy (2011-2020), with a focus on the perfection of the market economy, human resources development and infrastructure construction.

The PM also expressed the belief that the Viet Nam-WB partnership will become more comprehensive.

WB Vice President for East Asia and Pacific James Adams praised Viet Nam 's achievements in socio-economic development, especially in poverty reduction, and commended its Government policies to curb inflation, stabilise the macro-economy and ensure social welfare.

The WB will accompany Viet Nam in its development, with a strong commitment to support and cooperate in implementing goals for sustainable growth and development, poverty reduction, response to climate change and sea level rise, policy consultancy and experience sharing, affirmed the WB official.

To date, the WB has granted Vietnam non-refundable aid, credits with preferential interest rates and loans worth 13.5 billion USD for the country's development.

In the framework of the conference, there were two specific sessions on the Viet Nam-WB partnership, and infrastructure development and poverty reduction, during which participants discussed past cooperation and future opportunities for cooperation.

In a message sent to the conference, WB President Robert Bob Zoellick said in the medium term, WB will grant considerable aid from the International Development Association (IDA) and the International Bank for Reconstruction Development (IBRD) to assist Viet Nam’s reform activities and public investment programmes./.
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