The World Bank’s Board of Executive Directors has approved four credits totaling 456.5 million USD in support of Vietnam ’s development efforts.
The credits are all provided by the International Development Association (IDA) – the part of the World Bank that helps the world’s poorest countries. IDA aims to reduce poverty by providing interest-free credits and grants for programmes that boost economic growth, reduce inequalities and improve people’s living conditions.
As Vietnam approaches middle income status, the country needs a skilled population with a strong knowledge base in order to position the country well for economic expansion and integration into the global economy, said the WB.
According to the WB, creating a higher education system in Vietnam that is innovative, responsive to the demands of the market and of high quality is essential to the economic growth and development of Vietnam.
Human resource development is recognised as one of Vietnam ’s three key areas of focus in its coming 10 year strategy, said Victoria Kwakwa, the WB’s Country Director for Vietnam.
“The modern higher education system must contribute directly to this pillar by improving the quality of higher education so that graduates will possess the knowledge and skills that meet labor market demands,” she concluded./.
The credits are all provided by the International Development Association (IDA) – the part of the World Bank that helps the world’s poorest countries. IDA aims to reduce poverty by providing interest-free credits and grants for programmes that boost economic growth, reduce inequalities and improve people’s living conditions.
As Vietnam approaches middle income status, the country needs a skilled population with a strong knowledge base in order to position the country well for economic expansion and integration into the global economy, said the WB.
According to the WB, creating a higher education system in Vietnam that is innovative, responsive to the demands of the market and of high quality is essential to the economic growth and development of Vietnam.
Human resource development is recognised as one of Vietnam ’s three key areas of focus in its coming 10 year strategy, said Victoria Kwakwa, the WB’s Country Director for Vietnam.
“The modern higher education system must contribute directly to this pillar by improving the quality of higher education so that graduates will possess the knowledge and skills that meet labor market demands,” she concluded./.
