Prime Minister Pham Minh Chinh receives President of the World Bank (WB) Ajay Banga - Photo: VGP/Nhat Bac
At the meeting, the Prime Minister 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.
The WB President congratulated Vietnam on its positive economic development results in recent times, highly appreciated the Government's effective management to achieve these results; emphasized that the WB continues to consider Vietnam an important partner and affirmed that it will continue to accompany and support Vietnam.
To improve the effectiveness of cooperation in the coming time, the Prime Minister and the WB President agreed to accelerate the progress of existing projects, while promoting large-scale strategic projects with spillover effects, state-changing and situation-changing nature.
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...
The Prime Minister and the WB President agreed to speed up the progress of existing projects, while promoting large-scale strategic projects - Photo: VGP/Nhat Bac
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.
The WB President highly appreciated the Prime Minister's idea, affirming that he would seriously study the establishment of a regional center. The WB President 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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