PM calls for World Bank support in green transition

PM calls for World Bank support in green transition

During his visit to Malaysia for the 47th ASEAN Summit, Prime Minister Pham Minh Chinh met with World Bank vice president Carlos Felipe Jaramillo to strengthen bilateral cooperation.

On October 26 in Kuala Lumpur, Prime Minister Pham Minh Chinh congratulated Jaramillo on his recent appointment as World Bank vice president for the East Asia-Pacific region. He said, "With Jaramillo’s expertise and experience, the World Bank will continue to play an active role in Vietnam’s sustainable development and in deepening the long-standing partnership between the two sides."

Vietnam is targeting economic growth of over 8 per cent in 2025, with GDP projected to reach $510 billion – positioning the country as the world’s 32nd largest economy – and per capita income of about $5,000.

To support this next stage of development, PM Chinh emphasised, "Vietnam calls on the World Bank to enhance policy consultations, strengthen Vietnam’s global economic linkages, and expand resource mobilisation. We hope the bank will provide more preferential loans with streamlined procedures to accelerate project implementation."

He further noted, "Hopefully, the World Bank continues to adopt innovative approaches and increases support for Vietnam’s priority initiatives, including the development of one million hectares of low-emission, high-quality rice in the Mekong Delta, as well as green transition efforts, participation in ASEAN’s clean power grid, climate resilience, subsidence prevention, and disaster mitigation."

The PM added, "We would like to invite Jaramillo to visit Vietnam soon to discuss specific cooperation measures with relevant agencies."

For his part, the World Bank vice president congratulated Vietnam on the occasion of the 80^th National Day and highly praised and expressed his admiration for Vietnam’s efforts and achievements in socioeconomic development and in improving people’s livelihoods.

Agreeing with PM Chinh's proposals, Jaramillo stated, "The World Bank will continue to work actively with Vietnam, accompanying and supporting the country in achieving its development goals."

He added, "I wish to visit Vietnam soon to work directly with the relevant agencies to concretise the points discussed and agreed upon with the PM."

VIR