On the afternoon of December 2, on the occasion of attending the COP28 Conference in the UAE, Prime Minister Pham Minh Chinh received President of the World Bank (WB) Ajay Banga.
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.
Prime Minister Pham Minh Chinh receives World Bank President Ajay Banga. (Photo: VGP/Nhat Bac)
Mr. Ajay Banga 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, Prime Minister Pham Minh Chinh and the WB President agreed to accelerate the progress of existing projects, while promoting large-scale strategic projects with spillover effects, transformational 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...
While the WB is restructuring its global presence, Prime Minister Pham Minh Chinh 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.
Scene of the working session. (Photo: VGP/Nhat Bac)
The WB President appreciated the Prime Minister's idea and affirmed that he would seriously study the establishment of a regional center.
Mr. Ajay Banga particularly appreciated the efforts and determination of the Vietnamese Government in green transformation, climate change response and sustainable development, especially the implementation of the project to plant 1 million hectares of high-yield, low-emission rice.
WB leaders consider this a model project of WB 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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