Governor Nguyen Van Binh of the State Bank of Vietnam (SBV) had a meeting with senior management delegation of the World Bank (WB) in Hanoi on November 9.
At the meeting, Governor Nguyen Van Binh warmly welcomed the WB delegation of Executive Director for the South East Asia and Pacific (SEA Group) and WB Executive Directors to visit Vietnam for the first time.
Governor Nguyen Van Binh highly appreciated the support of WB’s shareholders for providing both finance and technical assistance to Vietnam, thereby helping Vietnam obtain encouraging results in poverty reduction and socio-economic development. He expressed his hope for further support from WB’s shareholders and WB in the coming time.
Over 20 years of getting IDA funding, Vietnam has been doing its best effort and expecting to graduate IDA period with a certain background and sustainable development. Parallel with the preferential loans, Vietnam hopes WB would increase its support through MIGA, IFA, IBRD resources to maximize funding for the development requirements of Vietnam; at the same time, enhancing the policy consultancy to help Vietnam stabilize macro-economy and develop socio-economy.
Vietnam spoke highly of the formulation of lending mechanism of IDA plus by WB and WB’s shareholders and that WB encourages other countries preparing for IDA graduation or graduating from IDA at the first period to get access to this lending mechanism. Vietnam hopes that this lending mechanism will be completed as soon as possible towards providing more preference than IBRD lending. In the coming time, Vietnam will be willing to coordinate with WB and WB’s shareholders to complete this lending mechanism.
In addition, SBV Governor Nguyen Van Binh briefed the WB senior management delegation of macro-economic situations in Vietnam, the management of monetary policy and the restructuring of the banking sector as well as its orientations in the coming time, especially development strategy outline for new period (2016 – 2020) by 12th National Congress of the communist party of Vietnam at the beginning of 2016.
Members of the WB senior management delegation said that Vietnam is a successful member nation of WB. Through this visit, WB deeply understood and strengthened the cooperation with Vietnam. The WB senior management delegation highly appreciated positive changes in Vietnam’s projects funded by WB and congratulated on great achievements Vietnam has obtained in socio-economic development. The WB senior management delegation asserted that WB will always support Vietnam in the fields of policy consultancy and funding for development objectives of Vietnam.
TLH