Deputy PM Tran Luu Quang (R) meets with Executive Director of the Office Executive Director of the WB Group of Southeast Asia Wempi Saputra in Hanoi on July 4. Photo: VGP

Deputy Prime Minister Tran Luu Quang on July 7 received Executive Director of the Office Executive Director of the World Bank (WB) Group of Southeast Asia Wempi Saputra in Hanoi.

At the meeting, the Deputy Prime Minister appreciated the good cooperation results between Vietnam and the World Bank, contributing to promoting socio-economic development, improving the people's material and spiritual life.

The Deputy Prime Minister expressed his gratitude to the World Bank and its Office for helping Vietnam receive a support of US$263.9 million from the WB Group's International Development Association (IDA), to carry out sustainable and inclusive recovery and development, under the socio-economic recovery and development program.

Wempi Saputra, Executive Director of WB Group of Southeast Asia, congratulated Vietnam on its impressive development achievements. He emphasized that Vietnam is one of the countries with the highest growth rate in the region, not many countries achieved 8% growth in 2022.

Deputy Prime Minister Tran Luu Quang presents a gift to Wempi Saputra. Photo: VGP

According to Wempi Saputra, the new World Bank Group President, Ajay Banga, who took office on June 2, gave a new vision to the World Bank, which is to build a world without poverty.

Wempi Saputra also said that the World Bank and other banks analyzed, and pointed out six major challenges facing the world today.

These include the consequences of the Covid-19 pandemic, climate change, the vulnerabilities of countries, the challenge of food and energy security, which had significant impact on the focus of activities, and priorities of the World Bank.

The new mission and priorities of the World Bank are in line with the development goals of Vietnam, Wempi Saputra said. He also affirmed that the WB will continue to accompany and support Vietnam.

Deputy Prime Minister Tran Luu Quang appreciated the WB's reform efforts to better meet the development needs of other countries, emphasizing that the challenges WB pointed out to the world are also challenges for Vietnam. It shows that both Vietnam and the World Bank share the same assessment of the world situation, and the common goals of all countries.

The Deputy Prime Minister stated that in the current period, Vietnam is not only facing global problems but also its own problems such as responding to climate change, developing according to the trend of the world (green energy, clean energy), or responding to devastating natural disasters.

Regarding climate change adaptation, if Vietnam is one of the countries most affected by climate change, then the Mekong Delta is the region affected the earliest and strongest (18-19 years earlier than the forecast for 2023), Deputy Prime Minister said.

The sea level rise, together with the decrease in fresh water from upstream, leading to the decline in alluvium and aquatic resources affected the livelihoods of tens of millions of people in this area.

In that context, Vietnam always appreciates and wishes to continue to receive the support and assistance of the World Bank, not only the financial resources but also policy advice, technical assistance, experience, practices, vision and development orientation to help Vietnam overcome challenges, and realize its development goals, the Deputy Prime Minister said.

The Deputy Prime Minister hoped that the WB would consider flexible criteria and requirements to accelerate the implementation of programs and projects in Vietnam, bringing benefits to the people.

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