AusAID, World Bank commit to support for socio-economic development in Việt Nam.

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VietNam News English - 31 month(s) ago 7 readings

The Australian Agency for International Development (AusAID) and the World Bank have confirmed their commitment to support Việt Nam's long-term socio-economic development in a recently signed strategic partnership agreement for the next five years.

HÀ NỘI – The Australian Agency for International Development (AusAID) and the World Bank have confirmed their commitment to support Việt Nam's long-term socio-economic development in a recently signed strategic partnership agreement for the next five years.

Under this partnership, AusAID will provide the World Bank with 58 million Australian dollars (more than US$61.7million) for the Bank's investment and advisory programme to support Việt Nam.

The partnership aims to foster an enabling environment for improved economic competitiveness, increased environmental sustainability, and broadened access to economic and social opportunity. It also aims to enhance co-operation between AusAID and the World Bank in working for development effectiveness in Việt Nam.

"We are very pleased to have the opportunity to partner with the World Bank in our joint efforts to support Việt Nam's development agenda," said Australian Ambassador to Việt Nam Allaster Cox.

"The analysis in our respective country partnership strategies has identified key constraints to Việt Nam's development and shows a shared view on the responses needed to assist Việt Nam with its development efforts," Cox added.

"The approach is more strategic and proactive while also allowing adequate flexibility to respond to emerging priorities in the Government's reform programme. This stepped up engagement will be mutually beneficial and help deliver stronger development results for Việt Nam," noted the World Bank Country Director for Việt Nam Victoria Kwakwa.

The proposed engagements are aligned with and directly address the priorities outlined in the Government of Việt Nam's Socio-Economic Development Plan for the 2011-15 period which is supported by AusAID's Strategy for Việt Nam to 2015, and the Bank's country partnership strategy from 2012-16. – VNS

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