World Bank Vietnam country director Ousmane Dione told reporters Monday that the country disbursed only 11 percent of over $9.5 billion in ODA loans it got last year, the lowest rate in a decade. He said the reasons for the delay were the lack of counterpart funds, the government’s concern over breaching the public debt limit. Vietnam has set the public debt cap of 65 percent of GDP. He called on government agencies to have constructive discussions with the World Bank to find a solution. The World Bank is not the only one to complain about Vietnam’s delays in disbursing ODA loans this year. The Japan International Cooperation Agency (JICA) said in October many ODA projects had been delayed, including one section of the Ho Chi Minh City metro, two sections of the Hanoi metro and the Maritime Safety Capability Improvement Project. The delays were a result of the public debt cap and other policies issued in recent years to control public debt, JICA said in a statement. … [Read more...] about Vietnam ODA spending slowest in a decade: World Bank
World bank vietnam
World Bank seeks fund for Vietnam’s rail development
The conference discussed the vision of the country’s railway sector, appreciation and development plan of the Vietnamese railway industry, prioritization and the mobilization of human resources. Participants asked the railway system to connect with seaports and international railways along economic corridors in the region. Country Director for the World Bank in Vietnam, Ousmane Dione said that WB will connect with financial organizations to seek funds and support for rail development in Vietnam. By BICH QUYEN - Translated by Kim Khanh Tags: World Bank Vietnam’s rail development … [Read more...] about World Bank seeks fund for Vietnam’s rail development
9 million Vietnamese people still living in extreme poverty: World Bank
Nine million Vietnamese people are still living in extreme poverty, according to a World Bank report released on Thursday which calls for more alleviation efforts despite the success so far. Vietnam's poverty rate fell by almost 4 percentage points since 2014, to 9.8 percent in 2016, but the problem is far from solved, especially among ethnic groups, the report said. Ethnic minorities, many of them living in mountains areas, account for 72 percent of poor people in the 93-million strong Vietnam, it said. The average per capita consumption of ethnic minorities remains less than 45 percent of the Kinh and Hoa (Chinese), the majority groups in Vietnam. The poor also faces a widening gap in terms of access to upper secondary education and improved water and sanitation, the report said. Education in Vietnam thus remains to be a key area in combating poverty, the report said, suggesting that the government improve education opportunities for children from all backgrounds to give them equal … [Read more...] about 9 million Vietnamese people still living in extreme poverty: World Bank
World Bank report: Vietnam continues to reduce poverty
Illustrative image (Source: VNA) Hanoi (VNA) - Poverty in Vietnam continues to fall, particularly amongst ethnic minorities, who saw their rate of poverty decline significantly by 13 percentage points, the largest decline in the past decade, says a new World Bank (WB) report. According to the Report “Climbing the Ladder: Poverty Reduction and Shared Prosperity in Vietnam” released by the WB at a workshop in Hanoi on April 5, improving income from highland agriculture can help Vietnam further reduce poverty, which has fallen by almost 4 percentage points since 2014, to 9.8 percent in 2016. Ethnic minorities – many of them living in highland areas – account for 72 percent of Vietnam’s poor, and encouraging them to grow more profitable industrial crops may improve their earnings. Addressing the workshop, WB Country Director for Vietnam Ousmane Dione said Vietnam has achieved tremendous results in reducing poverty and improving the quality of … [Read more...] about World Bank report: Vietnam continues to reduce poverty
Vietnam, World Bank launch energy efficiency project
(VEN) - The World Bank and Vietnam’s Ministry of Industry and Trade jointly launched the Vietnam Energy Efficiency for Industrial Enterprises (VEEIE) project on March 5 to support energy-efficient technologies and practices. Consumption intensity According to the Department of Energy Efficiency and Sustainable Development under the Ministry of Industry and Trade, the national target program on energy efficiency and utilization in the 2011-2015 period cut energy consumption by 5.96 percent, equal to savings of over 11.8 million tonnes of oil. The energy consumption intensity of production industries that used to consume significant energy also dropped in the 2011-2015 period, such as steel (down 8.09 percent), cement (down 6.33 percent) and yarn (down 7.32 percent). In addition, the Ministry of Industry and Trade has certified more than 10,000 products for the energy efficiency label. Deputy Minister of Industry and Trade Hoang Quoc Vuong highlighted the efforts of the Vietnamese … [Read more...] about Vietnam, World Bank launch energy efficiency project