Vietnam Affirms Effective Use of WB Loans: PM Dung

The Vietnamese government will work closely with the World Bank (WB) to speed up the disbursement and increase the efficiency of its loans, Prime Minister Nguyen Tan Dung said. PM Dung made the statement at a meeting with Axel van Trotsenburg, vice president of the WB for East Asia and Pacific, in Hanoi on May 7. Vietnam wants WB to support its socio-economic development, infrastructure construction, human resource training, poverty reduction programs both financially and through policy consultancy, said the PM. For his part, Mr. Trotsenburg assured the PM that the WB will continue to provide financial help as well as policy consultancy to help Vietnam fulfill its socio-economic development targets. The organization will also support Vietnam in accessing different capital sources and boosting the public-private partnership (PPP) model as well as in new areas of cooperation Vietnam needs, he said. On the same day, Minister of Planning and Investment Bui Quang Vinh worked with Mr. Trotsenburg to discuss orientations for Vietnam’s socio-economic development and the WB’s future support. Since 1993, the WB has provided nearly $16.62 billion in credit, loans and grants to help Vietnam sustain growth and fight poverty. The WB has recently approved a $250 million lending package to support the country in economic management reforms for higher productivity and competitiveness. (VOV May 7, vietnamplus.vn May 7, Ha Noi Moi – New Hanoi May 8 p2, ven.vn May 8)