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VietNamNews

World Bank gets top praise for VN loans

Update: August, 29/2013 - 08:00
Prime Minister Dung (right) meets World Bank's Country Director Victoria Kwakwa on Wednesday in Ha Noi. — VNA/VNS Photo
HA NOI (VNS)— Prime Minister Nguyen Tan Dung yesterday spoke highly of the World Bank's decision to put Viet Nam on the list of the countries that will continue receiving preferential loans from the upcoming 17th Replenishment of the International Development Association (IDA).

He gave his appreciation while discussing measures for effective dispersion of the institution's loans for Viet Nam with its Country Director Victoria Kwakwa yesterday.

He urged the two sides to work together in selecting feasible projects on climate change adaptation, infrastructure development and poverty reduction to receive the funds.

Dung stressed that the bank was always a reliable partner of Viet Nam in the development process, in terms of not only capital source provision but also policy advisory.

He spoke highly of the contributions made by Victoria Kwakwa, who had actively mobilised the World Bank and other donors to maintain their preferential loans to Viet Nam, particularly investment funds for infrastructure development, hunger alleviation and poverty reduction.

He said the Vietnamese Government was determined to curb inflation, stabilise the macro-economy and maintain a reasonable growth rate.

The country was also focusing on restructuring the economy, public investment, banking system and State-owned enterprises, and had reached initial positive results, Dung said, adding that Viet Nam hoped to receive the bank's support and advice in the process.

Related to capital disbursement, Dung said the Government had instructed ministries and agencies to streamline administrative procedures and mobilize capital to speed up the implementation of projects funded by the institution, including 10 projects worth US$1.3 billion in the 2013 fiscal year.

For her part, Victoria Kwakwa suggested ministries and agencies continue to closely co-operate with the World Bank in Viet Nam to efficiently disburse capital, especially in the phase of project appraisal and approval.

Highly appreciating Viet Nam's preparations for receiving preferential loans from the World Bank in the International Development Association's 17th Replenishment, Kwakwa affirmed that the institution would always support Viet Nam in the socio-economic development process, and economic restructuring, particularly in building a regime to supervise and deal with the bad debts of the banking system. — VNS




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