Vietnam seeks World Bank funds for key infrastructure projects

The projects, according to the PM, will be focused on large-scale transportation and urban development, water supply and drainage, urban railway, North-South high-speed railway, digital transformation, renewable energy, smart agriculture, low carbon emissions, as well as climate change response.

He said the government has assigned a Deputy Prime Minister to direct relevant ministries and agencies to address shortcomings and quickly disburse World Bank-committed capital for existing projects. He also asked the World Bank to work closely with the government to speed up project implementation and streamline procedures.

The Government of Vietnam considers the World Bank an important development partner that has provided policy consultation and financial resources for development projects in Vietnam, significantly contributing to national socio-economic development, he said.

Vice President Manuela Ferro for her part said the World Bank would continue to accompany and support Vietnam towards its goal of becoming a developed, high-income country by 2045.

She appreciated Vietnam’s commitments and efforts on sustainable development and climate change response; and said the World Bank is actively coordinating with ministries and agencies to identify large and key projects that the two sides will focus on cooperation in the coming time, especially in the fields of transportation, energy, digital transformation, climate change response in the Mekong Delta, among others.

To date, the World Bank has committed to lending about US$25 billion to Vietnam to implement more than 170 projects in the fields of transportation, agriculture, irrigation and rural development, education and training, energy, and clean water, budget support, urbanisation, environmental projection, and health care.

The two sides are preparing to undertake 29 projects worth about US$2.4 billion sourced from World Bank loans.