March 13, 2025 | 21:56 (GMT+7)
PM urges EIB to provide Vietnam with new-generation ODA loans
Prime Minister Pham Minh Chinh received Vice-President of the European Investment Bank (EIB) Nicola Beer in Hanoi on March 12, during which he proposed the bank and Vietnam sign a new-generation official development assistance (ODA) agreement with a larger financial scale, more preferential interest rates, simpler procedures, and less stringent conditions.
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Prime Minister Pham Minh Chinh (right) welcomes Vice-President of the European Investment Bank Nicola Beer. |
This can not only provide financing for the public sector, but also support financial access for the private sector, Chinh suggested.
In addition to promoting ongoing projects, the PM suggested the bank continue to provide funding for Vietnam and support the country in mobilizing capital sources, while offering preferential financial packages for energy transition and large-scale strategic infrastructure development projects, including transportation, healthcare, and education infrastructure. He also called for EIB's assistance in establishing and operating international financial centers in Vietnam.
Reaffirming Vietnam's strong commitment to green and energy transition, especially within the cooperation framework with the E.U. and the Just Energy Transition Partnership (JETP), the Government leader urged the EIB to share its expertise in mobilizing green financial resources, building preferential mechanisms and innovative financial solutions to facilitate renewable energy projects, emissions reduction, and climate adaptation.
For her part, Beer stated that as one of the world's leading banks, the EIB has maintained financial cooperation with Vietnam since 1997, supporting the country in infrastructure, environment, and energy development, including metro line projects in Hanoi and Ho Chi Minh City. She stressed that with its ability to mobilize capital from European countries and financial institutions, the bank is willing to assist Vietnam through concrete projects, contributing to the country’s goal of 8% growth in 2025 and double-digit growth in the following years.
She expressed her hope that Vietnam will continue administrative reforms to accelerate the disbursement of EIB funding into development projects. She also reaffirmed the bank’s readiness to support Vietnam in developing financial centers, transferring advanced technology, and training human resources as proposed by PM Chinh.
Source: VNA