Prime Minister Pham Minh Chinh proposed that AIIB advise, finance, and support Vietnam with preferential loans for large-scale, highly effective infrastructure projects.
On the afternoon of July 16, at the Government Headquarters, Prime Minister Pham Minh Chinh received Mr. Kim Lap Quan, President of the Asian Infrastructure Investment Bank (AIIB), who is on a working visit to Vietnam.
The Prime Minister said that Vietnam highly appreciates and attaches importance to developing cooperative relations with the AIIB and is promoting three strategic breakthroughs, including breakthroughs in developing strategic infrastructure such as transport infrastructure, healthcare, education, culture, sports, climate change response, digital infrastructure, green development infrastructure, and circularity...
According to the Prime Minister, regarding transport infrastructure, Vietnam has great demand in all five modes of transport (road, rail, air, maritime, inland waterway), but investment must be focused and key, thereby creating new development space, new values, contributing to reducing logistics costs, promoting production and business, creating jobs, livelihoods for people and sustainable development.
In the coming time, based on the principle of “harmonized benefits, shared risks,” and win-win, the Prime Minister proposed that AIIB advise, finance, and support loans with preferential interest rates for Vietnam in large-scale, highly effective infrastructure projects that can turn around the situation and change the status, such as the construction of the North-South high-speed railway; 3 northern railway lines connecting to China and through China connecting to Europe and Central Asia; and urban railway lines in Hanoi and Ho Chi Minh City.
Mr. Kim Lap Quan, President of the Asian Infrastructure Investment Bank, congratulated Vietnam on its development achievements and impressive economic growth rate in recent times, while the global economy is facing many difficulties.
Chairman Kim Lap Quan also expressed his satisfaction with the Prime Minister's speech at the recent WEF Dalian World Economic Forum with very correct and accurate views.
Chairman Kim Lap Quan said that the Bank will spend about 5 billion USD with preferential interest rates to cooperate with Vietnam and highly agree with the cooperation orientations emphasized by the Prime Minister, focusing on large projects, quick procedures and high efficiency.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank established in 2016 with 57 founding member countries (including Vietnam).
To date, the number of AIIB members has reached 109 countries, accounting for 81% of the world's population and 65% of global GDP. 274 projects have been approved with a total value of over 53.5 billion USD for member countries.
AIIB has experience investing in urban transport infrastructure projects in several Asian countries such as India, China, Philippines, Türkiye...
In Vietnam, recently, the bank has mainly focused on the private sector, with 3 projects (total value of 223 million USD) in the fields of supporting COVID-19 response, solar energy development, hydropower, and infrastructure to respond to climate change.
Currently, AIIB has expressed interest in funding a number of projects in Vietnam in the fields of renewable energy, transport infrastructure, water supply and drainage.../.
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