Over the next five years, World Bank assistance to Vietnam will focus on efforts to strengthen governance, promote gender equality and improve the country’s resilience to external economic shock, natural disasters and climate change effects.
These cross-cutting goals are outlined in the new five-year country partnership the World Bank’s board of directors has approved for Vietnam. The strategy focuses on supporting reforms and investments required to help the country transition successfully into a middle-income country.
Aside from the three key goals, it outlines three pillars: strengthening Vietnam’s regional and global competitiveness, promoting sustainable development, and improving access to economic and social opportunities.
Fundingwise, the strategy provides for $4.2 billion from the International Development Association and some $770 million from the International Bank for Reconstruction and Development. The funds will be used to support the Vietnamese government’s Socioeconomic Development Strategy 2012, which is focused on structural reform, environmental sustainability, social equity and macroeconomic stability issues.
Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.
