Prime Minister Pham Minh Chinh has urged the World Bank (WB) to continue providing concessional loans for Vietnam’s crucial infrastructure projects, including high-speed and urban rail systems, major seaports, and airports, the Vietnam News Agency reported.

During a meeting with WB Vice President for East Asia and Pacific Manuela Ferro on the sidelines of the 44th and 45th ASEAN Summits in Laos on October 10, PM Chinh praised the WB's strategic vision of eradicating poverty and achieving sustainable development on a livable planet.  

Expressing gratitude for the WB's support of Vietnam's socioeconomic development over the past three decades, PM Chinh reaffirmed the country’s commitment to deepening its cooperation with the lender.

Ms. Ferro reiterated the WB's unwavering support for Vietnam's journey to become a high-income developed nation by 2045.

She highlighted the WB's efforts to diversify funding sources and lower interest rates on development loans, and expressed strong support for PM Chinh's proposals to prioritize assistance for large-scale infrastructure projects.

The WB Vice President for East Asia and Pacific also pledged to help Vietnam integrate more deeply into global supply chains, sustain economic growth, and attract quality investments, particularly in the face of ongoing global and regional economic challenges.

Both sides agreed to streamline procedures for negotiating and signing loan agreements, ensuring that cooperation projects can be implemented efficiently and promptly.