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World Bank offers 3.8-bln-USD financial commitment for Vietnam

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(Globalpost/GlobalPost)

World Bank offers 3.8-bln-USD financial commitment for Vietnam

HANOI, July 17 (Xinhua) -- The World Bank (WB) on Thursday announced an International Development Assistance (IDA)-sourced financial commitment of over 3.8 billion U.S. dollars for Vietnam during the 2014-2017 period.

Jim Yong Kim, President of the WB made the pledge in Hanoi on Thursday while meeting with Vietnamese Prime Minister Nguyen Tan Dung during Jim's two-day visit.

The WB chief told a press briefing that "WB looks forward to working closely with the government of Vietnam to speed up reforms to address structural constraints" and "boost the efficiency of the country in state enterprises and financial sectors."

Vietnamese Prime Minister Nguyen Tan Dung said Vietnam highly appreciates WB's support on the IDA during 2014-2017 period.

Vietnam has become the second largest IDA recipient in nine consecutive years from 2008-2017, said Dung.

According to WB's website, IDA is part of WB fund for the poorest countries.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140717/world-bank-offers-38-bln-usd-financial-commitment-vietnam