World Bank reaffirms support for Vietnam

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The World Bank will continue supporting Vietnam to ensure that challenges in the aftermath of the global crisis are adequately addressed, the lender said in a statement, citing an official.

The Bank will continue to assist Vietnam's transition to a market economy and seek to scale up its financial assistance to the country, Managing Director Juan Jose Daboub said Thursday at a meeting with Deputy Prime Minister Nguyen Sinh Hung and central bank Governor Nguyen Van Giau.

Daboub also said the Bank will focus a significant part of its support towards helping Vietnam address the challenge of sustainable generation and access to energy.

The two Vietnamese officials expressed the country's support for a World Bank capital increase and their hope that the lender will continue to provide valuable support for the country's socio-economic development, the statement said.

The meeting was held on the sidelines of the 14th ASEAN Finance Ministers Meeting in the central resort town of Nha Trang.

Daboub congratulated ASEAN, or the Association of Southeast Asian Nations, on the coordinating role it played from the time the global economic crisis started. He said the developing countries of the East Asia & Pacific region were the first to emerge from the crisis.

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