The World Bank and the Australian Agency for International Development (AusAID) have signed a strategic partnership agreement for the next 5 years, confirming their commitment to support Vietnam’s long-term socio-economic development.
Accordingly, AusAID will provide the Bank 58 million AUD to invest and advise program to support Vietnam. The partnership aims to foster an enabling environment for improved economic competitiveness, increased environment sustainability, and broadened access to economic and social opportunity, as well as to enhance cooperation between the two parties in working for development effectiveness in the nation.
“This marks a new phase in the partnership between the two sides in support of Vietnam's development. The approach is more strategic and proactive while also allowing adequate flexibility to respond to emerging priorities in the Government's reform program. This stepped up engagement will be mutually beneficial and help deliver stronger development results for Vietnam”, stressed Ms Victoria Kwakwa, the World Bank Country Director for Vietnam.
The proposed engagements are aligned with and directly address the priorities outlined in the Government of Vietnam’s five-year Socio-Economic Development Plan 2011-2015 which is supported by AusAID’s Strategy for Vietnam to 2015, and the Bank’s Country Partnership Strategy (CPS) for the 2012-2016 period./.
(CPV)
