The Hanoitimes - Vietnam is entering a middle-income group with good economic characteristics in terms of income distribution. Vietnam's GDP growth in 2018 hits 10-year high at 7.08% Growing repidly, Vietnam's economy still remains behind regional peers Vietnam’s stock market proves an efficient capital mobilization channel for economy: PM Vietnams requires greater judicial effectiveness to earn market economy recognition: CIEM World Bank Vice President Makhtar Diop has invited Vietnam to join the highest-level talks in the upcoming annual 2019 Spring Meetings to share the story of Vietnam and the way which Vietnam has gone through to reach this stage of development, stated the State Bank of Vietnam (SBV), the country's central bank. SBV's Deputy Governor Nguyen Thi Hong and World Bank Vice President Makhtar Diop. Source: SBV. Vietnam is entering a middle-income group with good economic characteristics in terms of income distribution, Diop … [Read more...] about World Bank invites Vietnam to share economic growth story at 2019 Spring Meetings
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The Hanoitimes - As of September 2016, the World Bank had provided US$22.5 billion in grants, credits and concessional loans to Vietnam. WB retains downside projections for Vietnam’s economic growth amid trade war WB points out 4 key priorities for Vietnam’s reform agenda WB helps Vietnam reduce use of coal, mobilize funding for clean power Vietnam should reduce coal power for sustainable growth: EU, WB Vietnam should consider high growth firm-focused policy to boost economic performance: WB Makhtar Diop, the World Bank’s vice president for infrastructure, will pay his first official visit to Vietnam from February 20 to 22 as the Southeast Asian country is in dire need of capital for infrastructure development. World Bank’s Vice President for Infrastructure Makhtar Diop During his stay, Makhtar Diop is expected to meet with senior leaders of the country and of various ministries and agencies, and local authorities to confirm the World … [Read more...] about World Bank vice president for Infrastructure to visit Vietnam
The Hanoitimes - Up to 70% of EVN`s loans are denominated in foreign currencies, leaving the company heavily exposed to foreign exchange risks. EVN ordered to ensure sufficient power for economic growth Vietnam may face power shortage in 2019 due to thin coal supply: EVN EVN's wholesale electricity price frame approved Vietnam's EVN gets closer to issuing USD bonds Fitch assigns Vietnam's EVN "BB" rating with stable outlook The Electricity of Vietnam (EVN) – the country's sole power distributor – has borrowed billions of dollars from foreign lenders through the Vietnamese government’s guarantees over the past years, burdening the country’s public debt, the World Bank has said. A national power grid. Photo: Internet EVN’s debt is split into two categories, namely direct loans from a variety of domestic and international commercial banks (backed by the Ministry of Finance (MOF) and on-lending loans which the MOF had … [Read more...] about EVN’s borrowings burden Vietnam’s public debt: World Bank
World Bank President Jim Yong Kim is stepping down in February after six years at the helm of the global development lender (Photo: AFP/Nicolas ASFOURI) Jim Yong Kim, president of the World Bank, has announced that he will retire. This is far earlier than expected. Kim was first appointed in 2011 and was re-elected in 2016 for a five-year term, due to end in 2022. It was widely assumed that Kim would serve out his full term. Instead, he has abruptly declared that he will retire on Feb 1 and take up a job with a private investment infrastructure firm. What’s going on? The president of the World Bank is, in effect, the Pope of the official international development community. He is the ambassador-at-large of “The Bank”. As such, he (the president has always been a “he”) constantly travels the world, giving keynote speeches at major conferences, meeting heads of governments, and holding hundreds of meetings with ministers and officials to discuss … [Read more...] about Did World Bank President Jim Yong Kim leave on his own accord?
The World Bank on Monday unveiled $200 billion in climate action investment for 2021-25, adding this amounts to a doubling of its current five-year funding. Much of the climate action financing is being set aside for reducing greenhouse gas emissions, notably through development of renewable energy strategies The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a "significantly ramped up ambition" to tackle climate change, "sending an important signal to the wider global community to do the same." Developed countries are committed to lifting combined annual public and private spending to $100 billion in developing countries by 2020 to fight the impact of climate change -- up from 48.5 billion in 2016 and 56.7 billion last year, according to latest OECD data. Southern hemisphere countries fighting the impact of warming temperatures are nonetheless pushing northern counterparts for firmer commitments. In a … [Read more...] about World Bank promises $200 bn in 2021-25 climate cash