Visiting World Bank (WB) Vice President for East Asia and Pacific Region Axel van Trotsenburg has pledged to provide a maximum financial source to help Vietnam achieve its socio-economic goals.

Van Trotsenburg made the remark at a press conference in Hanoi on May 8, suggesting that the two sides work closely to disburse WB-assisted funding sources at highest level.

He hailed Vietnam as one of countries effectively using official assistance sources, including funding from the World Bank’s International Development Assistance (IDA).

The Vice President said he hopes the WB and Vietnam will coordinate in disbursing IDA funding effectively and affirmed to spare no effort for the success of the negotiations for the 17th replenishment of the International Development Assistance (IDA 17).

Vietnam is striving to achieve a higher income level, Axel van Trotsenburg said, adding that during the process, the country needs to implement reforms to promote growth with focus on generating new jobs and building a skilled workforce.

The WB is willing to provide Vietnam with consultations, especially in policies relating to maintaining macro-economic stability and growth, as well as assist the country in accessing capital resources.

Axel van Trotsenburg is on a working visit to Vietnam from May 6-9.

During his visit, the WB Vice President had meetings with Prime Minister Nguyen Tan Dung, Minister of Planning and Investment Bui Quang Vinh, Governor of the State Bank of Vietnam Nguyen Van Binh, and Minister of Agriculture and Rural Development Cao Duc Phat.-VNA