Government leaders want the WB to focus capital on lending to Vietnam at the lowest interest rates for key transport projects or large-scale urban infrastructure.
On the afternoon of November 14, Prime Minister Pham Minh Chinh received Ms. Manuela Ferro, Vice President for East Asia and Pacific of the World Bank Group (WB); Mr. Riccardo Puliti, Vice President for East Asia and Pacific of the International Finance Corporation (IFC); and Mr. John Gandolfo, Vice President for Treasury of IFC.
The Prime Minister wants the WB to lend at the lowest interest rates for projects on highways, urban infrastructure, water supply and drainage, urban railways, the North-South high-speed railway, and the Ho Chi Minh City - Can Tho railway.
Digital transformation projects; wind power, solar power, power transmission; low-carbon smart agriculture; climate change response in the Mekong Delta; one million hectares of high-quality rice... are also among the projects that the Prime Minister has proposed the WB to lend at low interest rates.
The request for the WB to prioritize capital for key transport projects and large projects in Vietnam was raised by the Prime Minister when receiving Ms. Carolyn Turk, World Bank Country Director in Vietnam in October.
Prime Minister Pham Minh Chinh received Ms. Manuela Ferro, Vice President for East Asia and Pacific of the World Bank Group, on the afternoon of November 14. Photo: Nhat Bac
The Prime Minister also pointed out a number of projects facing difficulties in terms of delayed compensation, site clearance, lack of counterpart funds, limited capacity, and differences between Vietnam and the World Bank's regulations. To resolve these issues, the Prime Minister assigned Deputy Prime Minister Tran Luu Quang to direct ministries and sectors to promote disbursement. The Government leader requested the World Bank to speed up the process and streamline procedures for both sides.
Vietnam always considers the WB and IFC as important development partners to support the country's socio-economic development through policy advice, financial support for ODA projects, preferential loans, and private sector loans.
The Prime Minister announced that he recently met with World Bank President Ajay Banga to discuss preparations for large, important projects that "have the nature of turning the situation around and transforming the state."
At the meeting, Ms. Manuela Ferro agreed with the Prime Minister's opinions. The WB is coordinating with Vietnamese agencies to identify major, key projects that the two sides will focus on cooperating on in the coming time "with the best interest rates". She suggested that the two sides quickly resolve difficulties and speed up the preparation, approval and implementation of projects.
To date, the WB has committed to lending Vietnam 25 billion USD to implement 170 projects in transportation, agriculture, irrigation, rural development, education and training, energy, clean water, budget support, urban areas, environment, health care...
Talking with IFC leaders, the Prime Minister proposed to help Vietnam form funds to promote private sector development, becoming an important pillar of the economy, especially in emerging, high-tech fields such as semiconductor chips, clean energy, electric vehicles, etc. He assigned units to promptly report solutions to handle problems related to the projects mentioned by IFC to further facilitate the mobilization of foreign investment loans for Vietnam's private sector.
IFC leaders pledged to help grow Vietnam's private sector and attract top investors to Vietnam.
Vnexpress.net
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