WB adopts Country Partnership Strategy framework with Vietnam

Illustrative image (Source: Internet)

Hanoi (VNA) - The Board of Executive Directors of the World Bank (WB) on May 31 approved a new Country Partnership Strategy framework with Vietnam, which will help the country realise socio-economic development goals in 2016-2021.

The framework will also help Vietnam balance economic development and environmental sustainability, promote equality and improve State agencies’ ability and accountability.

The framework aims to tap the WB’s existing support in Vietnam, connect the country with other development partners and mobilise other resources for development.

Four proritised groups in the framework are inclusive development and involvement of the private economy, investment in human development and knowledge, sustainable environment and response capacity, and good management.

The WB’s Board of Executive Directors approved a loan worth 358 million USD for Vietnam to implement two new projects.

The first 240-million- USD project will be implemented in several Mekong Delta localities, focusing on improving infrastructure and urban planning.

Meanwhile, the second one, with investment of 118-million-USD, will help restore and upgrade infrastructure in the central provinces of Binh Dinh, Phu Yen, Quang Ngai, Ninh Thuan and Ha Tinh – which were affected by flooding in 2016.-VNA

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