Prime Minister Pham Minh Chinh and Ms. Manuela Ferro, Vice President of the World Bank (WB) for the East Asia and Pacific region (Photo: VGP/Nhat Bac)

Prime Minister Chinh emphasized that Vietnam highly values its partnership with the WB and and hopes to receive continued support and preferential loans from the WB for major infrastructure projects on high-speed railways, subways, seaports, and large airports.

Ms. Manuela Ferro reaffirmed the WB's commitment to closely and effectively cooperating with Vietnam on its path to become a developed, high-income nation by 2045. She pledged support for Vietnam’s deeper integration into the global supply chain, maintaining economic growth, and attracting high-quality investments amidst global and regional economic challenges. She said the WB is seeking ways to diversify financial sources to lower interest rates on development assistance loans.

Both sides agreed to streamline procedures for negotiating and signing loan agreements to expedite the implementation of cooperation projects.

At a meeting with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), the Prime Minister called on AIIB to continue supporting Vietnam in mobilizing resources for key projects such as the Lao Cai-Hanoi-Hai Phong and Lang Son-Hanoi high-speed railways. He also requested preferential loans, technology transfers, and human resource training to facilitate these major initiatives.

AIIB President Jin Liqun confirmed AIIB’s commitment to helping Vietnam secure resources for critical infrastructure projects, particularly ensuring energy supply for high-speed railways and engaging in transportation, healthcare, climate change adaptation, and energy transition projects in the Mekong sub-region.

Both parties agreed to enhance the alignment of procedures and processes for negotiating and signing loans to ensure the swift and efficient execution of cooperation projects.