World Bank Provides $77M Credit for Vietnam Education Reforms

The World Bank’s Board of Executive Directors approved a credit line of $77 million for a project to reform the general education system in Vietnam, aiming to improve student learning outcomes through revising the curriculum and instruction. The credit, the second in a complete World Bank package of $315 million for Vietnam’s government to restructure both agriculture and education, has a grace period of five years and maturity period of 25 years since its approval date on June 30. It is provided by the International Development Association (IDA), the World Bank Group’s fund for the poorest countries. As part of the Renovation of General Education Project, the Bank will work directly with Vietnam’s Ministry of Education to raise student learning outcomes by providing assistance to help update and implement a new competency-based curriculum for primary, lower-secondary, and upper-secondary students. “The growth in demand for education and training reflects both traditional values and the concern in Vietnamese households that children acquire the new skills needed to succeed in a knowledge-based economy,” said Michael F. Crawford, the World Bank’s Lead Education Specialist and the project team leader. The project also will improve the effectiveness of instruction by creating and disseminating textbooks aligned with the revised curriculum and improve the assessment system. “The new, improved curriculum developed with the help of the project will enable Vietnamese schools to produce better-educated graduates who can meet the rising skill demands of 21st century employment,” Mr. Crawford noted. Vietnam has spent trillions of dong on reforming its education over the years. However, the work has proved ineffective as an increasing number of Vietnamese university and college graduates are unable to find jobs despite years of schooling while both local and foreign firms often complain of the lack of skilled manpower. (worldbank.org June 30, Nhan Dan – The Peoples July 2 p8, Thoi Bao Ngan Hang – Banking Times July 2 p2, Thoi Bao Kinh Te – Economic Times July 2 p10, Thanh Nien – Young People July 2 p6)