WB pledges US$4 billion loan for VN
16:54 | 17/07/2014

VGP – The World Bank (WB) has committed to providing a preferential loan worth nearly US$4 billion from the International Development Association (IDA) for Viet Nam within three years from 2014-2017.

PM Nguyen Tan Dung (R) receives World Bank President Jim Yong Kim, Ha Noi, July 17, 2014 - Photo: VGP/Nhat Bac

WB President Jim Yong Kim made the affirmation at his meeting with PM Nguyen Tan Dung on July 17.

The WB executive revealed that Viet Nam is one of the two nations receiving such large loans from the WB.

Applauding achievements made by Viet Nam, he asserted that the WB will mobilize its sources to help Viet Nam use effectively public and private resources to reach its set goals.

Besides, the WB hopes to cooperate with other development partners of Viet Nam such as the Japan International Cooperation Agency (JICA) to guarantee that the assistance will be monitored effectively.

Mr. Jim Yong Kim expected to strengthen cooperation with Viet Nam in the restructuring of State businesses, Public-Private Partnership, climate change response, new energy, health services and social security.

PM Nguyen Tan Dung thanked the WB for the pledged loan, affirming that the Vietnamese Government will use the sum effectively for the nation’s sustainable development strategy.

The PM also approved cooperation proposals of the WB President and suggested the WB enable Viet Nam to get access to its other capital resources.

Viet Nam desires to receive more assistance from the international community, in both policy consultancy and financial support, he said.

The PM proposed the WB assisting Viet Nam in reducing poverty in ethnic minority groups, afforesting to serve as coastal breakwaters, upgrading fishing boats, reducing overload in hospitals, improving people’s lives and fulfilling the Millennium Goal on poverty reduction.

Under the witness of PM Dung, WB President Jim Yong Kim and Governor of the State Bank of Viet Nam Nguyen Van Binh signed the Loan Agreement, worth US$876 million for five programs and projects.

By Thuy Dung

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