WB, Vietnam examine ways to remove bottlenecks in project implementation
VOV.VN - Deputy Prime Minister Tran Luu Quang hailed the World Bank (WB) for its continued support in mobilising funding for development projects in the nation at a reception held on March 13 in Hanoi for Carolyn Turk, country director of the WB in Vietnam.
Quang proposed that both sides continue working hand in hand as part of efforts to overcome difficulties faced in the implementation and finalisation of projects which use the WB’s loans.
Since 1993, the WB has allocated roughly US$25 billion in concessional loans to the nation, along with offering both technical assistance and policy consultation, thereby contributing significantly to national socioeconomic development.
The two sides also spent time to review the current state of the WB’s projects in the country, especially since the establishment of a task force in charge of stepping up their progress led by Deputy Minister Phuong.
According to the Ministry, major barriers hindering project approval stem from differences in compensation policies, land clearance, and complaint settlement mechanism between the nation and the WB.
As part of efforts to deal with these obstacles, the Vietnamese side suggested negotiating and signing a framework agreement in a bid to harmonise procedures between both sides, with a specific focus on compensation, land clearance and complaint settlement mechanisms.
In response, Turk affirmed the WB’s willingness to engage in further discussions with the Vietnamese side regarding this proposal.
The WB greatly values its relationship with the country and regards the nation as a critically important partner, she added.
