PM calls for WB’s continued capital mobilisation support

Thursday, 2017-09-21 11:51:32
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PM Nguyen Xuan Phuc (right) and WB Country Director in Vietnam Ousmane Dione.
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NDO/VNA – Prime Minister Nguyen Xuan Phuc has called on the World Bank (WB) to intensify its coordination and mobilisation of capital from international donors, in order to develop suitable projects that meet Vietnam’s development investment demands.

He told the WB Country Director in Vietnam Ousmane Dione, in Hanoi on September 20, that Vietnam always heeds the effective use of loans, especially those in the form of official development assistance (ODA).

The leader suggested that the bank seek grants for Vietnam, particularly non-refundable aid, in order to help agencies and localities access preferential loans following their graduation from the International Development Association (IDA).

Discussing projects during the 2017-2018 fiscal year, PM Phuc urged the two sides to coordinate with each other to select effective and suitable projects in order to finance them from the first phase.

Regarding capital resources for large-scale and inter-regional infrastructure projects, he called for further support from the WB to the Ministries of Industry and Trade, and Transport, as well as the other relevant ministries, in building a legal framework facilitating the mobilisation of investment capital under the Public-Private Partnership (PPP) model.

He proposed that the WB step up their cooperation with Vietnam in such priority areas as innovation, hi-tech agriculture, infrastructure and private economic development.

The Government leader spoke highly of the bank’s support for Vietnam over recent times, especially through the building of a mechanism to help Vietnam graduate from IDA, which, he said, is suitable with the country’s current situation.

Mentioning the Government’s conference on the shift towards a sustainable development model adaptive to climate change in the Mekong Delta, scheduled for September 26-27 in Can Tho city, PM Phuc praised the WB for sponsoring the “Mekong Delta Integrated Climate Resilience and Sustainable Livelihoods” project.

The project has been carried out effectively, contributing to improving livelihoods and combating climate change in the Mekong Delta localities, he noted.

For his part, Ousmane Dione affirmed that the WB stands ready to accompany and share its international experience with Vietnam in order to help the country accelerate the reform process.

He suggested that the country establishes a coordinating unit to accelerate reform activities.

Applauding the cooperation between the WB and Vietnam over the past few years, particularly Vietnam’s effective use of the bank’s aid, Ousmane Dione told PM Phuc that the bank has completed a number of major reports on Vietnam, including the Country Partnership Framework (CPF), a report on food safety and another on agricultural modernisation in the country.

The WB Country Director reiterated that he is willing to cooperate and share experience with Vietnam to contribute to the country’s socio-economic development.