Vietnamese Prime Minister Nguyen Tan Dung has called on new World Bank President, Robert Zoellick to provide more financial supports to develop the country’s infrastructure systems and boost human resources development to shift to a medium income earner by 2010, state media reported Tuesday.
PM Dung made the call at a courtesy reception given to visiting WB President Robert Zoellick in Hanoi on Monday, urging more loans with effective usage.
The WB President, for his part, conveyed his thanks to the host PM and emphasized that to become a medium income earner of US$1,000 by 2010, Vietnam should build market institutions including improving governance, transparency, rule of law, financial systems and attach importance to developing private economic sectors.
In the coming time, the International Finance Corp (IFC) under the WB will raise its loans to US$500 million which will be invested in infrastructure, deepwater seaport and power projects in Vietnam in the coming time, Robert Zoellick said, pledging that the WB will put Vietnam on the list of the countries that are to be loaned by the International Bank for Reconstruction and Development.
In February, the World Bank said it planned to lend Vietnam at least US$4 billion over the next five years, but Zoellick said it could bring more loans and generate investments through its private sector arm.
Before holding talks with the Vietnamese government leader, Robert Zoellick toured by a helicopter to scrutinize several WB-funded projects in northern Yen Bai province, one of Vietnam’s poorest regions, 125 km northwest of Hanoi.
“I want to listen to our stakeholders and learn how the government has used the money and development expertise provided through the International Development Association (IDA),” the WB President said.
Robert Zoellick noted in a statement before leaving Yen Bai that Vietnam is a great development story, from which many other developing countries can learn.
Before the new WB President’s 2-day working visit to the communist-ruled country, Hanoi put on trial ex-PMU18 officials who were charged for gambling and briber giving, however, no defendants disclosed exact briber takers.
Previously, a World Bank review found no evidence that any of its funds were misused but it revealed “shortcomings in transparency and accountability controls in PMU 18.” (Local sources)
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