World Bank looks to boost partnership with Việt Nam

World Bank Managing Director of Operations Axel Van Trotsenburg meets President Nguyễn Xuân Phúc during his official visit to Việt Nam. — VNA/VNS Photo Thống Nhất

President Nguyễn Xuân Phúc received World Bank (WB) Managing Director of Operations Axel Van Trotsenburg on Tuesday for discussions on the partnership between the country and the financial institution.

President Phúc expressed gratitude toward the bank for its work in poverty reduction, socio-economic development, and other national programmes in Việt Nam.

He regarded the Việt Nam 2035 Report, which was conducted with the support of WB, as a high-quality study with a long-term vision for the country.

Việt Nam hoped that WB would continue this assistance with the 2045 report, especially in the global situation where there are major changes that affect Việt Nam’s development goals by 2030, with the vision to 2045, he added.

The WB’s support was expected in the three breakthrough areas of the country’s socio-economic development strategy: institutions, human resources and infrastructure.

President Phúc paid high regard to the WB Director’s visit to various localities in Việt Nam, for a better understanding of climate change's impact on people.

Việt Nam is one of the countries most affected by climate change, he said, and the bank’s support would help address the challenges that threaten the livelihoods of millions in the country.

Renewable energy is also an area for investment and technical support, in order to develop a carbon-free economy, as this is one of Việt Nam’s areas of strength, according to the President.

In regard to post-pandemic recovery, President Phúc said that Việt Nam was committed to cooperating with the WB in collaborative programmes in the future, especially in the disbursement of the Official Development Assistance (ODA) fund.

WB Managing Director of Operations Axel Van Trotsenburg said that Việt Nam’s success had been evident in its achievements and potential for economic development. The nation was making significant progress and was rapidly becoming a middle-income country.

Trotsenburg said that WB hoped to continue its role in supporting Việt Nam in its development and would be pleased to see the sustainable and successful cooperation between the institution and the country.

The WB would also be willing to work with Việt Nam on the 2045 report and would make all efforts to secure the necessary resources to carry out this study.

The bank also paid special attention to the breakthroughs of development that President Phúc mentioned and would be interested in working with Việt Nam in these areas.

The WB director also added that, following COP26, the financial institution had been working with countries around the world to tackle the challenges of climate change in association with the development goals.

The bank was conducting reports on climate change impact in 25 countries, including Việt Nam.

The Việt Nam report was now completed, with multiple solutions proposed for the country to study and apply, as well as to come up with short and long-term measures in addressing climate change issues.

The WB would gladly cooperate with Việt Nam to realise the initiatives and solutions in this report, especially in the Mekong Delta. VNS