Hanoi leader highly values WB’s support for local development

Politburo member and Secretary of the Hanoi Party Committee Dinh Tien Dung appreciated the World Bank (WB)’s aid for the capital while receiving WB Country Director for Vietnam Carolyn Turk on November 2.

The host described the WB’s assistance as a major contribution to local development, noting that Hanoi always views the bank as an important partner which has not only served as a provider of capital for projects but also helped improve investors’ capacity and assisted the city in accessing sources of advanced knowledge in the world.

The 11 programmes and projects funded by the WB, with total value of about US$269 million, have been completed and proved effective, Dung noted.

Hanoi is ready for a stage of breakthrough development so as to become a green, civilised, modern, and smart city with fast and sustainable growth. To that end, it will need foreign direct investment (FDI), official development assistance (ODA) capital, and concessional loans, and the WB will be one of the large sponsors, according to the official.

He added that as Hanoi will face numerous challenges during the development process, including those related to planning, wastewater treatment, air pollution, traffic infrastructure, digital administration building, and relic preservation, every financial support and technical project is very important.

WB Country Director Turk held that the issues mentioned by Dung are results of Hanoi’s fast development over the past years, noting it’s now the right time for the city to deal with barriers before these problems become more difficult and complex.

She suggested working groups between the two sides be set up and regular meetings be held to review outcomes of each group’s performance, affirming that the WB is willing to help the city to take future steps.

At the meeting, the two sides discussed many affairs of common concern, including air pollution, wastewater and solid waste treatment, the construction of some urban rail routes, the mechanism for allocating capital among the localities in the Capital Region, and smart city building.

Dung expressed his hope that the Hanoi - WB cooperation will become stronger through the implementation of projects, thus contributing to the city’s sustainable development.

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