PM calls for more WB funding

September 21,nice – rennes 2017 - 08:08

Prime Minister Nguyễn Xuân Phúc has called on the World Bank (WB) to intensify its mobilisation of capital from international donors for projects that meet Việt Nam’s development investment needs.

Prime Minister Nguyễn Xuân Phúc (R) receives WB Country Director in Việt Nam Ousmane Dione in Hà Nội yesterday. — VNA/VNS Photo Thống Nhất

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has called on the World Bank (WB) to intensify its mobilisation of capital from international donors for projects that meet Việt Nam’s development investment needs. 

He told WB Country Director in Việt Nam Ousmane Dione in Hà Nội yesterday that Việt Nam always used loans effectively, especially those in the form of official development assistance. 

The leader suggested the bank seek grants for Việt Nam, particularly non-refundable aid, in order to help agencies and localities access preferential loans after graduating from International Development Association. 

Regarding capital resources for large-scale and inter-regional infrastructure projects, he called for more support from the WB to the Ministries of Industry and Trade, and Transport, as well as other ministries in building a legal framework facilitating the mobilisation of investment capital under the public-private partnership model.

He proposed the WB step up co-operation with Việt Nam in innovation, hi-tech agriculture, infrastructure and private economic development. 

For his part, Ousmane Dione affirmed that the WB stood ready to share international experience with Việt Nam to help the country speed up its reform process. 

He suggested the country establish a co-ordinating unit to accelerate reform. 

Applauding collaboration between the WB and Việt Nam over the years, particularly Việt Nam’s effective use of the bank’s funds, Dione told PM Phúc that the bank had completed a number of major reports on Việt Nam, including the Country Partnership Framework, a report on food safety and another on agricultural modernisation. — VNS