Quang suggested that both sides continue working closely together to overcome difficulties in the implementation and completion of projects using WB’s loans.

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Deputy Prime Minister Tran Luu Quang (right) and WB Country Director Carolyn Turk at their meeting in Hanoi on March 13

Since 1993, the WB has allocated about 25 billion USD in concessional loans to Vietnam, along with technical assistance and policy consultation, contributing significantly to national socioeconomic development.

Both sides reviewed the current state of the WB’s projects in Vietnam, especially since the establishment of a task force in charge of stepping up their progress led by Deputy Minister of Planning and Investment Tran Quoc Phuong.

According to the Ministry of Planning and Investment, major barriers hindering project approval stem from differences in compensation policies, land clearance and complaint settlement mechanism between Vietnam and the WB.

To address these obstacles, the Vietnamese side proposed negotiating and signing a framework agreement to harmonize procedures between Vietnam and the WB, with a specific focus on compensation, land clearance and complaint settlement mechanisms.

Turk, for her part, expressed the WB’s willingness to engage in further discussions with Vietnam regarding this proposal.

The WB highly values its relationship with Vietnam and considers Vietnam a critically important partner, she said.

Source: VNA