The World Bank Group's Board of Executive Directors has discussed theVietnam Country Partnership Strategy (CPS) for the 2012-16 period andapproved the first three operations under the new CPS, deliveringcommitment to support its transition to a successful middle-incomecountry.
Victoria Kwakwa, Country Director for the WorldBank in Vietnam, said that the World Bank Group's first CPS with Vietnamsince it became a lower middle-income country in 2009 will combinecontinuity from the previous CPS programme with the introduction of somegradual strategic shifts aimed at sharpening strategic focus within theprogramme, enhancing operational efficiency, and delivering developmentresults faster.
Besides outlining Vietnam's keydevelopment achievements, the CPS also highlights remaining challenges,including maintaining high levels of growth with macroeconomicstability, strengthening economic competitiveness, managing theenvironment and natural resources and tackling persistent poverty inremote communities.
The CPS is expected to help Vietnamaddress these challenges and implement the Government's Socio-economicDevelopment Strategy during the next 10 years.
It willsupport investment, programmes and advisory services organised into astrategic framework of three key pillars and three cross-cutting themes.
The pillars are to increase the country'scompetitiveness, sustainability of its development and access to socialand economic opportunities. The cross-cutting themes are to strengthengovernance, promote gender equality and improve resilience in the faceof external economic shocks, natural hazards and the impacts of climatechange.
The World Bank has provided nearly 14 billion USDin credit, loans and grants to help Vietnam sustain growth and fightpoverty since 1993.
The International DevelopmentAssociation (IDA), the World Bank's concessional arm, will allocateabout 4.2 billion USD to support Vietnam during the new CPS period.
On December 15, the World Bank's Board of Executive Directors approvedthree operations worth total 457 million USD in IDA credits to helpVietnam implement three development projects in poverty reduction,urban infrastructure services and rural transport. /.
Victoria Kwakwa, Country Director for the WorldBank in Vietnam, said that the World Bank Group's first CPS with Vietnamsince it became a lower middle-income country in 2009 will combinecontinuity from the previous CPS programme with the introduction of somegradual strategic shifts aimed at sharpening strategic focus within theprogramme, enhancing operational efficiency, and delivering developmentresults faster.
Besides outlining Vietnam's keydevelopment achievements, the CPS also highlights remaining challenges,including maintaining high levels of growth with macroeconomicstability, strengthening economic competitiveness, managing theenvironment and natural resources and tackling persistent poverty inremote communities.
The CPS is expected to help Vietnamaddress these challenges and implement the Government's Socio-economicDevelopment Strategy during the next 10 years.
It willsupport investment, programmes and advisory services organised into astrategic framework of three key pillars and three cross-cutting themes.
The pillars are to increase the country'scompetitiveness, sustainability of its development and access to socialand economic opportunities. The cross-cutting themes are to strengthengovernance, promote gender equality and improve resilience in the faceof external economic shocks, natural hazards and the impacts of climatechange.
The World Bank has provided nearly 14 billion USDin credit, loans and grants to help Vietnam sustain growth and fightpoverty since 1993.
The International DevelopmentAssociation (IDA), the World Bank's concessional arm, will allocateabout 4.2 billion USD to support Vietnam during the new CPS period.
On December 15, the World Bank's Board of Executive Directors approvedthree operations worth total 457 million USD in IDA credits to helpVietnam implement three development projects in poverty reduction,urban infrastructure services and rural transport. /.
