Da Nang (VNA) – Prime Minister Nguyen XuanPhuc has urged the World Bank (WB) to continue its financial and technicalsupport for Vietnam during his meeting with the WB’s Vice President for EastAsia and Pacific Victoria Kwakwa in Da Nang on June 27.

The Government leader asked for the bank’stransitional support to help Vietnam with the International DevelopmentAssociation (IDA) graduation, thus maintaining the country’s achievements insocio-economic development and poverty reduction.

Phuc said the WB’s adjustment of its forecast ofVietnam’s economic growth from 6.5 percent at the end of 2017 to 6.8 percent in2018 would help improve investors’ confidence in Vietnam.

 He informedKwakwa about Vietnam’s smooth disbursement of the WB’s loans, especially during2012-2016, saying the Vietnamese Government has urged localities and agenciesto speed up the implementation of the projects.

Talking about the World Economic Forum on ASEAN tobe hosted by Vietnam in September 2018, the PM expressed his hope that the WB willsend representatives to this important event.

Kwakwa, who is in Vietnam to attend the sixth GlobalEnvironment Facility (GEF 6) Assembly, said Vietnam’s hosting of the GEF 6 and otherbig international events recently has reflected its increasing role andprestige in the international area.

She congratulated Vietnam on its high economicgrowth, with the figure recorded in the first quarter of 2018 being the highestyear-on-year increase over the past decade.

To increase the economy’s resistance againstexternal shocks, Vietnam should push forward with reforms, including financialreforms, she suggested.

Recalling PM Phuc’s request for the WB’s support forVietnam’s renewable energy projects, Kwakwa said the bank hopes to cooperatewith the country in this promising sphere.  

The same day, PM Phuc hosted a reception forPresident of the Asian Development Bank (ADB) Takehiko Nakao, who is also in DaNang to attend the GEF 6.

The PM appreciated the high priority given toVietnam by the ADB and Takehiko Nakao himself, affirming that the bank is animportant partner of Vietnam and one of the leading providers of capital, technicalsupport and consultation for the country, significantly contributing tospurring national socio-economic development.

The leader stressed that the Vietnamese Governmentconsistently pursues the goals of stabilising macro economy; curbing inflation;limiting public debt at below 65 percent; developing institutions,infrastructure and human resources; combating climate change and ensuringsocial welfare.

Vietnam commits to finishing the disbursement of theremaining 613 million USD sourced from the Asian Development Fund (ADF) in 2018before graduating from the ADF in 2019, he said, adding that the Government hasapproved five projects and programmes included in the 2018 list, coveringhealth care, agriculture, tourism and transport.

PM Phuc called on the bank to provide more technicalsupport and policy consultations for Vietnam, while joining hand with the GEFand other donors to mobislise capital for the combat against climate change aswell as socio-economic development in the country.

He also urged the ADB to arrange more capital in orderto reduce interest rates of loans given to Vietnam in the fields of climatechange, infrastructure, agriculture and rural development, education, healthcare and poverty reduction.

In reply, Nakao lauded Vietnam’s socio-economicachievements over the past time, saying the ADB is happy to provide loans tofor Vietnam.

Praising the Vietnamese Government’s ratification ofthe five above-mentioned projects, the President said the ADB wishes tocooperate with Vietnam to speed up the implementation of these projects.

Nakao informed his host that after consideration,the ADB has decided to delay the payment of ADF loans for Vietnam to at leastJanuary 2023. In 2022, the bank will continue to consider whether Vietnam hasto begin debt payment from 2023 or not.

The ADB will continue to closely coordinate withVietnam to accelerate the effective use of ADB loans, he said, noting that thebank has received Da Nang city’s request for support in coastal erosionprevention and infrastructure development.

Also on June 27, PM Phuc met with CEO of Unilever(UK) Paul Polman on the sidelines of the GEF 6.

Paul Polman pledged to work for sustainabledevelopment in Vietnam, increase exports from the country and encourageEuropean businesses to invest in the Southeast Asian nation.

Unilever has been doing business in Vietnam since1995 with investment totaling 300 million USD so far.-VNA