Prime Minister hosts AIIB President

The Vietnamese leader asserted that Viet Nam highly values and attaches importance to developing relations with the AIIB.

Viet Nam is promoting three strategic breakthroughs, one of them is strategic infrastructure development such as transport infrastructure, noted the Prime Minister.

He went on to say that transport infrastructure development requires huge investment capital across all five modes of transportation.

Against such backdrop, Pham called on the AIIB to provide Viet Nam preferential loans to carry out large-scale projects such as the North-South high-speed railway; three northern railway lines connecting with China and via China to link with Europe and Central Asia, and urban railway lines in Ha Noi and Ho Chi Minh City.

Jin Liqun, for his side, hailed Viet Nam's achievements and remarkable economic growth, pledging to offer loans worth around US$5 billion with preferential interest rates for Viet Nam.

Established in 2016, AIIB is a multilateral development bank that began with 57 founding member countries, including Viet Nam. Its membership has since expanded to 109, representing 81 percent of the global population and 65 percent of global GDP. To date, AIIB has approved 274 projects worth over US$53.5 billion for its member countries.

In Viet Nam, AIIB has focused on private sector projects totaling US$223 million, addressing areas such as COVID-19 response, solar energy, hydropower, and climate change-related infrastructure.

The bank is now expressing interest in financing some projects in renewable energy, transportation infrastructure, and water supply and drainage in Viet Nam./.