WB to Help Vietnam Transitinto Middle Income Country

The World Bank’s Board of Executive Directors has approved four credits totalling US$456.5 million in support of Vietnam’s development efforts. This brings the total of World Bank lending to Vietnam this fiscal year to US$2.13 billion, a record figure.

 

The modern higher education system (US$180 million) must contribute directly to this pillar by improving the quality of higher education so that graduates will possess the knowledge and skills that meet labour market demands.

 

The credits approved by the World Bank’s Board also includes the 9th Poverty Reduction Support Credit (US$150 million), which is the fourth in a five-year cycle aimed at supporting the implementation of the Vietnam’s Social Economic Development Plan (SEDP). This credit aims to continue the reforms needed to transform Vietnam from a transition economy to a middle-income country. It will promote reforms in the areas of state sector; financial sector; education; health; gender; water and sanitation; environment; public financial management; legal development; public administration reform; and anticorruption.

 

A sum of US$100 million will be used to assist Vietnamese Government agencies with capacity building to plan and prepare public investments efficiently and ensure international quality standards. And finally, US$26.5 million provides additional financing for the System Efficiency Improvement, Equitization and Renewable Project.

Q.C