The World Bank Board of Executive Directors on June 5 approved a US$84.4 million IDA credit to support multi-sectoral policy reforms by the Government of Vietnam to promote climate-resilient landscapes and green transport and energy systems.

Vietnam’s economy has been seriously hurt by the continuing coronavirus pandemic. 

There is no time when speed matters more than when a pandemic strikes, and what is unfolding with the COVID-19 pandemic worldwide speaks volumes to this. 

Amid the Fourth Industrial Revolution, Vietnam is boosting efforts and policy reforms to build up a digital economy. 

The World Bank (WB)’s new approaches to bidding and deployment for solar projects will help Vietnam substantially boost and effectively manage its abundant solar energy resources.

On January 15, the WB and Ministry of Finance signed a financing agreement for a grant worth US$10.5 million to promote integrated urban development and transport connectivity along a new Bus Rapid Transit corridor in HCM City.

The Global Infrastructure Facility (GIF)’s Governing Council has approved 1.5 million USD in funding for the World Bank (WB) and Vietnam to carry out the Solar Pilot Auction Programme, the WB said on December 18.

Minister of Planning and Investment Nguyen Chi Dung has said authorities are considering the allocation of 1 billion USD for the sustainable development of the Mekong Delta to cope with climate change.

Vietnam’s economy has performed well in 2019, with GDP expanding by an estimated 6.8 percent, public debt reduced by almost 8 percentage point of GDP since 2016, and a trade balance surplus for the fourth year in a row.

Ousmane Dione continues his talk to VietNamNet about barriers to development and the path Vietnam needs to follow to reach prosperity.

“Vietnam doesn't have other options other than moving forward. Frankly, Vietnam must move forward,” said Ousmane Dione, the Vietnam Country Director for the World Bank.