Politics

IFC pledges to further support Vietnam

The International Finance Corporation (IFC) will continue its support to Vietnam, especially in green growth, climate change response and increasing productivity in the private sector, IFC Vice President for Asia and Pacific Garcia Mora pledged on April 15.
IFC pledges to further support Vietnam ảnh 1Deputy Prime Minister Le Minh Khai (right) and  IFC Vice President for Asia and Pacific Alfonso Garcia Mora (Photo: VNA)
HCM City (VNA) – The International FinanceCorporation (IFC) will continue its support to Vietnam, especially in green growth,climate change response and increasing productivity in the private sector, IFC VicePresident for Asia and Pacific Alfonso Garcia Mora pledged on April 15.

At a working session with Deputy Prime Minister LeMinh Khai in Ho Chi Minh City, the IFC Vice President said Vietnam is one ofthe top recipients of the IFC's capital.

He also commended Vietnam’s economic management overthe past two years when the COVID-19 was ravaging, saying the country postedpositive growth in 2021 and controlled inflation quite well amid increasinginflation globally.

For his part, Khai lauded the IFC’s role in Vietnam’ssocio-economic development, notably in issues regarding policy making and humanresources for development, with attention paid to the private sector.

The official said Vietnamese localities need huge developmentinvestments, particularly for infrastructure building. Therefore, the supportfrom such international organisations as the IFC would ease the burden of publicdebt.

Khai suggested Mora hold working sessions with localitieslike HCM City, Hai Phong and Thanh Hoa during his trip to assist a number ofpublic-private partnership (PPP) projects and help the localities accesslong-term financing for infrastructure development.

Vietnamese agencies will continue to closelycoordinate with the IFC office in the country to enhance cooperation betweenthe two sides in the time ahead, he said.

The official also called on the IFC to furtherassist the Government in implementing Vietnam’s commitments at the 26th UnitedNations Climate Change Conference of the Parties (COP26), which, he said,requires large funding.

He also suggested the IFC continue its coordinationwith the State Bank of Vietnam in the implementation of the project on bankrestructuring and bad debt settlement./.
VNA
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