NA Chairwoman Nguyen Thi Kim Ngan (R) and her guest - WB Vice President for East Asia and the Pacific, Victoria Kwakw (Photo: VNA)

Hanoi (VNA) - National Assembly Chairwoman Nguyen Thi Kim Ngan asked for the World Bank’s support in policy consultation and called for further funding, which will help stabilise Vietnam’s macro-economy while addressing the country’s challenges.

The NA leader made the call during a reception for the World Bank (WB)’s Vice President for East Asia and the Pacific, Victoria Kwakwa, who was previously the WB’s Country Director for Vietnam, in Hanoi, on June 7.

The WB has backed Vietnam in building a road map to peter out preferential loans from the International Development Association (IDA) to protect and improve the country’s achievements, Ngan noted, adding that the National Assembly as the highest organ of state power is monitoring the efficient use of loans, especially IDA funding.

Hailing the Vietnam 2035 Report – a joint undertaking by experts from Vietnam and the WB Vietnam, she said that the report is a significant document, which puts forth long-term orientations to help Vietnam become an industrialised nation and promote comprehensive reforms for the country’s market economy.

The Vietnamese official congratulated her guest on her new position as the WB’s Vice President for East Asia and the Pacific, believing that Victoria Kwakwa will continue her assistance for national strategic development programmes in regional countries, including Vietnam.

Ngan also shared with her guest Vietnam’s socio-economic development strategy for 2016-2020, highlighting that Vietnam is giving priority to stabilising the macro-economy, strengthening the implementation of strategic breakthroughs and restructuring the economy together with renovating the growth model.

Vietnam still faces a host of difficulties during international integration and economic development, especially the critical impacts of climate change and rising sea levels, she highlighted.

For her part, Victoria Kwakwa underscored that the WB treasures its working relationship with Vietnam, expressing her hope that the Vietnamese NA Chairwoman will continue her efforts to elevate the relations to a new height.-VNA