Australia, WB extend partnership to support Viet Nam’s development priorities
VGP - The Australian Government and the World Bank (WB) have formally agreed to extend their partnership in support of Viet Nam’s sustainable and inclusive development agenda.
The partnership started in 2012 and will now continue until 2026, valued at AUD 95 million.
The extension of partnership with the WB comes during the 50th year anniversary of Australia-Viet Nam relations and demonstrates ongoing commitment to Vietnamese men and women, said Australia's Ambassador to Viet Nam Andrew Goledzinowski.
"For Viet Nam to realize its ambition to become a high-income country in 2045, the legislative reform process and strong governance continue to be essential. We are proud to be supporting this ambition in partnership with the WB," he added.
The partnership is designed to support Viet Nam's development agenda by providing data, analysis and technical assistance to support policies that are informed, inclusive and sustainable.
Addressing the event, WB Country Director for Viet Nam Carolyn Turk expressed her delight that Australia has made available this additional resource to enable Australia–WB Partnership to support Viet Nam in this critical stage of its development as the country looks for ways to achieve its aspiration for high income status in 2045.
The areas of support are of strategic importance for the country, including institutional reforms, social equity and inclusion, the transition to a low carbon economy and innovation-driven growth, she shared.
Over the past five years, the Australian and WB partnership has had an impact on more than 58 policies and regulations and helped drive meaningful legislative change.
Recent examples include the Prime Minister's decision on the Mekong Delta Regional Master Plan for 2021-30, the Ministry of Labor, Invalids and Social Affairs' circular on career guidance and job counseling that is estimated to benefit over two million students, and its guidance on the rollout of digital social assistance payments to all 63 provinces with approximately 3.5 million beneficiaries.
The partnership also provided data that helped informed improvements in child-care services for the Labor Code of 2019.
These successes have led to a renewed commitment to 2026. The partnership will continue to work closely with Viet Nam to reflect the needs of the country and its people./.