On the afternoon of December 2, on the occasion of attending the COP28 Conference, Prime Minister Pham Minh Chinh received President of the World Bank (WB) Ajay Banga.
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| Prime Minister Pham Minh Chinh received World Bank (WB) President Ajay Banga on the occasion of attending the COP28 Conference, December 2, 2023. (Source: VNA) |
At the meeting, Prime Minister Pham Minh Chinh thanked and appreciated the WB's support and cooperation for Vietnam in recent times, especially in policy advice, financial provision, and implementation of many effective projects, making positive contributions to the process of socio-economic development and poverty reduction in Vietnam.
Congratulating Vietnam on its extremely positive economic development results in recent times, the WB President highly appreciated the Government's effective management to achieve these results and emphasized that the WB continues to consider Vietnam an important partner and affirms that it will continue to accompany and support Vietnam.
To enhance the effectiveness of cooperation in the coming time, the Prime Minister and the President of the World Bank agreed to accelerate the progress of existing projects, while promoting large-scale strategic projects with widespread impacts. Some potential new generation projects within the framework of the WB's 5-7 billion USD loan for Vietnam in the next 3 years include the Vietnam Renewable Energy Promotion Project (REACH), the project to plant 1 million hectares of high-yield, low-emission rice, the Hanoi - Hoa Lac high-speed railway project, investment in climate change-adapted infrastructure in the Mekong Delta, and digital transformation and green transformation projects.
At the same time, while the WB is restructuring its global presence, the Prime Minister proposed that the WB establish a regional center with an office in Vietnam, affirming to create the best conditions for the regional office to operate projects in Vietnam and other countries in the region.
Appreciating the Prime Minister's idea, the WB President affirmed that he would seriously study the establishment of a regional center. Mr. Ajay Banga especially appreciated the efforts and determination of the Vietnamese Government in green transformation, responding to climate change and sustainable development, especially the implementation of the project to plant 1 million hectares of high-yield, low-emission rice, considering this a model project of the WB in green agriculture in the world, helping to reduce methane emissions as well as bringing clear financial benefits to people through the carbon credit mechanism.
The WB President also proposed that Vietnam study participating in the global carbon credit market and affirmed his readiness to accompany and support Vietnam in this process, as well as in implementing climate commitments and goals in general.
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