Vietnam wants to receive technical and financial assistance from the World Bank, especially in settling bad debts among businesses.

Vietnamese Finance Minister Vuong Dinh Hue made the statement at a working session with Pamela Cox, visiting Vice President for East Asia and Pacific region of the World Bank (WB) in Hanoi on July 26.

Hue also suggested the WB extend Vietnam ’s access to the International Development Association (IDA)’s preferential loan facility, which is of importance to Vietnam , especially at time when Vietnam is making efforts to reduce poverty in 63 poorest districts nationwide and cope with climate change.

The Vietnamese Government is currently focusing on building new rural areas in line with sustainable development, Hue said.

He also asked the WB to assist the Vietnamese Government in its restructuring of the State-owned businesses, including building a legal framework and policies regarding governance and supervision in particular, and working out a draft law on the investment and trade of the State capital for submission to the National Assembly.

Cox said, in order to access IDA capital for a longer time, Vietnam should learn from other countries in order to receive both loans from the International Bank for Restructuring and Development (IBRD) and other preferential loans.

The WB is scheduled to discuss Vietnam with foreign donors next month to further support the country during its restructuring of the State-run businesses.-VNA