Vietnam will prioritise the World Bank (WB)’s low-interest loans for sustainable poverty elimination, economic growth and income improvement from 2015 to 2018, Deputy Minister of Planning and Investment Nguyen The Phuong has promised.

He added that the country has effectively used the WB’s credits and will soon be in a position where it no longer relies on loans with concessional terms from WB’s International Development Association (IDA).

WB Country Director for Vietnam Victoria Kwakwa said the bank has launched a new operation strategy targeting extreme poverty eradication and wealth promotion for its member organisations to support its partners’ sustainable development.

The strategy aims to cut the percentage of people living on less than 1.25 USD per day to 3 percent by 2030, and promote the income increase for 40 percent of lowest-income people around the globe, she added.

The director went on by saying that under this strategy, the WB will select most viable projects for Vietnam and combine them with the country’s development targets.

The institution will sustainably foster comprehensive growth in underdeveloped communities in Vietnam, Kwakwa pledged.-VNA