IFC pledges to further support Vietnam

Deputy Prime Minister Le Minh Khai (right) and IFC Vice President for Asia and Pacific Alfonso Garcia Mora (Photo: VNA)

HCM City – The International Finance Corporation (IFC) will continue its support to Vietnam, especially in green growth, climate change response and increasing productivity in the private sector, IFC Vice President for Asia and Pacific Alfonso Garcia Mora pledged on April 15.

At a working session with Deputy Prime Minister Le Minh Khai in Ho Chi Minh City, the IFC Vice President said Vietnam is one of the top recipients of the IFC's capital.

He also commended Vietnam’s economic management over the past two years when the COVID-19 was ravaging, saying the country posted positive growth in 2021 and controlled inflation quite well amid increasing inflation globally.

For his part, Khai lauded the IFC’s role in Vietnam’s socio-economic development, notably in issues regarding policy making and human resources for development, with attention paid to the private sector.

The official said Vietnamese localities need huge development investments, particularly for infrastructure building. Therefore, the support from such international organisations as the IFC would ease the burden of public debt.

Khai suggested Mora hold working sessions with localities like HCM City, Hai Phong and Thanh Hoa during his trip to assist a number of public-private partnership (PPP) projects and help the localities access long-term financing for infrastructure development.

Vietnamese agencies will continue to closely coordinate with the IFC office in the country to enhance cooperation between the two sides in the time ahead, he said.

The official also called on the IFC to further assist the Government in implementing Vietnam’s commitments at the 26th United Nations Climate Change Conference of the Parties (COP26), which, he said, requires large funding.

He also suggested the IFC continue its coordination with the State Bank of Vietnam in the implementation of the project on bank restructuring and bad debt settlement.