AusAID and the WB are committed to working for development effectiveness in Vietnam.
Under the partnership, AusAID will provide the WB with AU$58 million for its investment and advisory programme to support Vietnam. The partnership aims to foster a favourable environment to improve economic competitiveness, increase environment sustainability, and allow for wider access to economic and social opportunities. It also hopes to enhance cooperation between AusAID and the World Bank in working for effective development in Vietnam.
“We are very pleased to have the opportunity to partner with the World Bank in our joint efforts to support Vietnam’s development agenda”, said Australian Ambassador to Vietnam, Allaster Cox. “The analysis in our respective country partnership strategies has identified key constraints to Vietnam’s development and shows a shared view on the responses needed to assist Vietnam with its development efforts.”
Meanwhile, Victoria Kwakwa, the WB Country Director for Vietnam noted, “This marks a new phase in the partnership between AusAID and the World Bank in support of Vietnam's development. The approach is more strategic and proactive while also allowing adequate flexibility to respond to emerging priorities in the Government's reform program. This stepped up engagement will be mutually beneficial and help deliver stronger development results for Vietnam.”
The proposed engagements are aligned with and directly address the priorities outlined in the Vietnamese Government's five-year Socio-Economic Development Plan (SEDP) 2011-2015, which is supported by AusAID’s Strategy for Vietnam to 2015, and the WB’s CPS 2012-2016.