The framework will also help Vietnam balance economic development and environmental sustainability, promote equality and improve State agencies’ ability and accountability. 

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 Photo for illustration: worldbank.org

The framework aims to tap the WB’s existing support in Vietnam, connect the country with other development partners and mobilize other resources for development. 

Four prioritized groups in the framework are inclusive development and involvement of the private economy, investment in human development and knowledge, sustainable environment and response capacity, and good management. 

The WB’s Board of Executive Directors approved a loan worth USD 358 million for Vietnam to implement two new projects. 

The first USD-240-million project will be implemented in several Mekong Delta localities, focusing on improving infrastructure and urban planning. 

Meanwhile, the second one, with investment of USD-118-million, will help restore and upgrade infrastructure in the central provinces of Binh Dinh, Phu Yen, Quang Ngai, Ninh Thuan and Ha Tinh – which were affected by flooding in 2016.

Source: VNA