Australia partners with World Bank for VN’s development

Australia will provide AU$25 million (US$18.7 million) to the World Bank over the next four years as part of a joint effort to help Việt Nam realise its economic development plan.

Australian Ambassador to Việt Nam Craig Chittick and World Bank Country Director Ousmane Dione on Tuesday signed the 2016-2020 partnership to continue their co-operation to support Việt Nam, which was first established in 2012.

The renewed partnership will help the Vietnamese Government undertake reform priorities identified in the country’s five-year Socio-Economic Development Plan to 2020, focusing on trade and competitiveness, transport, ethnic minorities, the Mekong delta and gender equality.

“One of the great achievements under the first phase of the partnership was to support the Government of Việt Nam to develop the Việt Nam 2035 report, a bold and ambitious vision for Việt Nam’s economy in the next 20 years,” Australian Ambassador Craig Chittick said at the signing ceremony.

“Through the second phase of this partnership, Australia looks forward to working with the World Bank to support Việt Nam in implementing this vision so that all citizens benefit.”

Ousmane Dione, meanwhile, hailed the initial partnership for having created a strong synergy to support Việt Nam’s development agenda.

“This stepped up engagement will be mutually beneficial and help deliver stronger development results for Việt Nam,” he said.

Source VNS