The World Bank (WB) has proposed a project portfolio worth $11.2 billion in Vietnam, prioritizing large-scale initiatives in infrastructure, energy transition, and climate adaptation, local media reported.
WB Country Director Mariam Sherman discussed the plan with Finance Minister Nguyen Van Thang in Hanoi on March 20.
Ms. Sherman thanked the ministry for its cooperation and named some solutions to quicken the execution of key projects such as the Renewable Energy Accelerated Consolidation and Transmission (REACH) project.
Meanwhile, Minister Thang emphasized Vietnam’s focus on using official development assistance (ODA) for strategic projects, including expressways, high-speed rail, and digital infrastructure. He urged WB to streamline loan procedures and consider grants to reduce borrowing costs for priority projects.
Discussing WB’s financing tools, Minister Thang noted that besides project-based loans, Vietnam may need budget support loans for rapid funding. The two sides agreed to further discuss ways to simplify lending procedures for efficiency. (TBTCVN, Doanh Nghiep Hoi Nhap, MoF)