Prime Minister Pham Minh Chinh has a meeting with Ms. Mariam J. Sherman, World Bank (WB)’s Country Director for Vietnam, Cambodia, and Laos, in Hanoi on May 15.

During the meeting, the Prime Minister emphasized that the Vietnamese government always considers the WB a close, important, and trusted partner. He expressed his appreciation for the WB’s significant and effective support for and contributions to Vietnam’s socio-economic development, particularly in poverty reduction.

Specially, the Prime Minister highly valued the WB’s proposal to provide Vietnam with over $11 billion in loans over the next five years and suggested that this funding should be prioritized for major projects in Vietnam.

In addition, the Prime Minister also proposed that the WB allocate support and funding to both the public and private sectors, with more preferential and competitive interest rates, and adopt more flexible and efficient capital management models.

The Prime Minister also proposed that the WB focus on providing financial support for priority areas including large-scale infrastructure  and transportation projects, energy transition and renewable energy development, and agricultural projects that have positive environmental impacts such as the low-emission rice cultivation model that both sides have been jointly implementing, etc.

Notably, the Prime Minister proposed the WB to support funding for Vietnam to implement the North - South high-speed railway project, which is expected to start construction in 2026 with a total investment of around $67 billion.

Ms. Sherman, for her part, highlighted Vietnam’s development strategy and acknowledged the country’s goal of becoming a high-income, developed nation by 2045. She also praised Vietnam’s determined institutional reforms and efforts to streamline its administrative system.

Regarding the Prime Minister’s proposals, Ms. Sherman affirmed that these are also areas of great interest to the WB in its support for Vietnam in the coming period. Ms. Sherman affirmed that the WB stands ready to support Vietnam in this process, including by sending experienced experts to Vietnam to provide policy recommendations, enhance cooperation, and ensure swift and effective implementation of large - scale projects.

During the meeting, Prime Minister Pham Minh Chinh and Ms. Mariam J. Sherman, and leaders of relevant Vietnamese ministries and agencies also discussed solutions to accelerate  several ongoing joint projects between the two sides.