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Australia, WB extend partnership to support Vietnam's development

The Australian Government and the World Bank (WB) have formally agreed to extend their partnership in support of Vietnam’s sustainable and inclusive development agenda.
Australia, WB extend partnership to support Vietnam's development ảnh 1Australian Ambassador to Vietnam Andrew Goledzinowski (L) and World Bank Country Director for Vietnam Carolyn Tusk exchange documents on the extension of the partnership between the Australian Government and the WB to support Vietnam's sustainable, inclusive development. (Photo courtesy of the World Bank in Vietnam)
Hanoi (VNS/VNA) - The Australian Government and the WorldBank (WB) have formally agreed to extend their partnership in support of Vietnam’ssustainable and inclusive development agenda.

The partnership started in Vietnam in 2012 and will now continueuntil 2026, valued at 95 million AUD.

Australian Ambassador to Vietnam Andrew Goledzinowski said:“The extension of our partnership with the World Bank comes during our50th year anniversary of Australia and Vietnam’s bilateral relations anddemonstrates our ongoing commitment to Vietnamese men and women.”

"For Vietnam to realise its ambition to become a high-incomecountry in 2045, the legislative reform process and strong governance continueto be essential. We are proud to be supporting this ambition in partnershipwith the World Bank,” he said.

The partnership is designed to support Vietnam’s developmentagenda by providing data, analysis and technical assistance to support policiesthat are informed, inclusive and sustainable.

World Bank Country Director for Vietnam Carolyn Tusk said: “We aregrateful that Australia has made available this additional resource to enableour Australia – World Bank Partnership to support Vietnam in this criticalstage of its development as the country looks for ways to achieve itsaspiration for high-income status in 2045. 

“The areas of support are of strategic importance for the country,including institutional reforms, social equity and inclusion, the transition toa low carbon economy and innovation-driven growth.”

Over the past five years, the Australian and World Bankpartnership has had an impact on more than 58 policies and regulations andhelped drive meaningful legislative change.

Recent examples include the Prime Minister’s decision on theMekong Delta Regional Master Plan for 2021-2030, the Ministry of Labour,Invalids and Social Affairs’ circular on career guidance and job counsellingthat is estimated to benefit over 2 million students, and its guidance on therollout of digital social assistance payments to all 63 provinces and citieswith approximately 3.5 million beneficiaries

The partnership also provided data that helped informedimprovements in child-care services for the Labor Code of 2019.

These successes have led to a renewed commitment to 2026. Thepartnership will continue to work closely with Vietnam to reflect the needs ofthe country and its people./.
VNA
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