World Bank praises effective use of funding

May 04, 2012 | 13:42

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The Vietnamese Government has effectively used the World Bank’s financial support, particularly in education and social security.

The bank’s managing director Mahmoud Mohieldin made the comments at a meeting with Deputy Prime Minister Nguyen Thien Nhan in Hanoi on May 3.

The World Bank’s total financial commitment to Vietnam as of February 2012 was nearly US$15 billion for 111 projects, mostly in the fields of transport, urban and rural development, energy, water resources management, public administration reforms, finance, education, health care and environment.

Mohieldin said the World Bank will provide more financial support for Vietnam to develop a suitable system of social security services.

Mr Nhan said the World Bank’s contributions to the country’s development were appreciated and that he expected it to continue providing financial and technical support to help Vietnam attain its goals, particularly in the realm of human resources.

In regards to social security, he asked the bank to focus its resources on ensuring safety for people at risk, reducing poverty and ensuring equal access to training opportunities.

He hoped the bank will further support Vietnam in maintaining sustainable growth after becoming a middle-income country (having a minimum gross per capita income of $1,006) as well as carrying out the national anti-tuberculosis programme.

VNS

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