Politics

PM urges WB to provide concessional loans for key infrastructure projects

Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.

Prime Minister Pham Minh Chinh (R) and WB Vice President for East Asia and Pacific Manuela Ferro. (Photo: VNA)
Prime Minister Pham Minh Chinh (R) and WB Vice President for East Asia and Pacific Manuela Ferro. (Photo: VNA)

Vientiane (VNA) – Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.

At a meeting with WB Vice President for East Asia and Pacific Manuela Ferro on the sidelines of the 44th and 45th ASEAN Summits and Related Summits in Vientiane on October 10, PM Chinh lauded the WB’s strategic vision to create a world free from poverty on a livable planet, which focuses on sustainable development and green transition.

Thanking and highly appreciating the WB for its positive support to Vietnam’s socio-economic development over the past three decades, he affirmed that Vietnam always values and wishes to further deepen its cooperation with the lender.

Ferro affirmed the WB's strong commitment to continue its close and effective cooperation with Vietnam in its journey to become a high-income developed nation by 2045.

She highlighted the WB’s efforts to diversify funding sources to lower interest rates on development loans, and expressed strong support for PM Chinh’s proposals to prioritise assistance for key large-scale infrastructure projects.

The WB Vice President also pledged to help Vietnam penetrate more deeply into global supply chains, sustain economic growth, and attract quality investments, especially in the face of ongoing global and regional economic challenges.

Both sides agreed to streamline procedures in negotiating and signing loan agreements, ensuring that cooperation projects can be carried out swiftly and effectively./.

VNA
#WB Vice President for East Asia and Pacific Manuela Ferro #Prime Minister Pham Minh Chinh #concessional loans Vietnam
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