VN, WB sign second CPS for 2012-2016 period
16:36 | 31/05/2012

VGP –The World Bank (WB) and Ministry of Planning and Investment (MPI) on May 31 in Hanoi announced the Vietnam Country Partnership Strategy (CPS) for the 2012-2016 period.

Under the CPS, the WB has pledged to provide around US$4.2 billion to support reforms and investments key to Vietnam’s transition to a successful middle income country.

The strategy will focus on three pillars including (i) strengthening Vietnam's competitiveness in the regional and global economy, (ii) enhancing the sustainability of its development, and (iii) broadening access to social and economic opportunity. 

WB Country Director to Vietnam Victoria Kwakwa said “The new strategy will combines continuity from the previous CPS program with the introduction of some gradual strategic shifts aimed at sharpening strategic focus within the Bank’s program, enhancing operational efficiency, and delivering development results faster.”  

For the new CPS period, the indicative allocation from the World Bank’s concessional arm, the International Development Association (IDA), to support Vietnam is about SDR 2.8 billion (equivalent to about US$4.2 billion). 

This would be Vietnam’s largest IDA allocation and reflects Vietnam’s strong performance as well as an increase in IDA resources overall.  Vietnam will also have access to IBRD resources, proposed to be around US$770 million through mid-2014. 

MPI Deputy Minister Cao Viet Sinh underlined that Vietnam is trying to change by raising development efficiency instead of assistance efficiency.

He took the occasion to call on more support from the international community, especially the WB to successfully realize the strategy.

Earlier, the CPS was deployed in Vietnam in the 2007-2011 period. The economy expanded annually at a pace of 6.7% in the 2007-2010 period. The primary education system and healthcare in moderate quality and costs covered both rural and urban areas./.

By Khanh Phuong

  Reader opinion
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address