The Governor of the State Bank of Vietnam (SBV) Le Minh Hung had a courtesy meeting with Madam Kristalina Georgieva, Chief Executive Officer of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) of of World Bank (WB) on March 23, 2017 at the SBV headquarters.
The meeting was attended by Madam Victoria Kwakwa, World Bank's Vice President for the East Asia and Pacific Region; representatives of SBV entities including International Cooperation Department, Monetary Policy Department, Governor Office, and Communication Department.
At the meeting, the SBV Governor Le Minh Hung warmly welcomed Madam Kristalina Georgieva and WB delegation to Vietnam and the SBV. Congratulating Madam Kristalina Georgieva for her recent appointment as CEO of IBRD and IDA, SBV Governor Le Minh Hung expressed his hope that Madam Kristalina Georgieva would have great performance to achieve the set targets of IBRD and IDA as well as the WB, concurrently focus on and improve the good partnership relation between Vietnam and the World Bank.
Governor Le Minh Hung highly appreciated the WB’s support and contribution in the cause of social economic development of Vietnam, especially in poverty reduction over the past time, expressing his pleasure on the good cooperative relationship between Vietnam and WB that has been increasingly and practically developing.
Expressing his gratitude to and speaking highly of WB’s policies to support for Vietnam to graduate from IDA in fiscal 2018 (from July 1, 2017 to June 30, 2018). Governor Le Minh Hung stated that Vietnam has the huge demand on being assisted, especially in the progress of legal frame work completion and transparent governance, infrastructure development, skilled human resource development and high technology science investment, private sector development, innovation enhancement of key sectors in the economy, including State-owned enterprise reform, public investment and banking restructure toward sustainable development. However, Vietnam specially focuses and concentrates resources on developing medical and education sectors and ensuring social protection. The SBV Governor said, apart from IDA, the Government of Vietnam would like WB to mobilize its assistance for Vietnam from other organizations under World Bank Group (such as IBRD, MIGA, IFC…) to maximize the effectiveness of WB assistant for Vietnam.
Governor Le Minh Hung spoke highly WB for completing the Country Partnership Framework (CPF) between Vietnam – World Bank 2017 – 2022 to timely set up the cooperation framework between the two sides in the new period.
Madam Kristalina Georgieva congratulated acknowledgeable achievements of Vietnam on social-economic development over the past time, expressing her pleasure on the good development of the cooperation relation between Vietnam and WB; Kristalina Georgieva committed that WB will mobilize resources to support and closely coordinate with Vietnam to implement the priority development as well as providing new instruments to partly help Vietnam to get acquaintance with other preferential capital resources from the market in the first period of IDA graduation.
Governor Le Minh Hung with WB Delegation led by Madam Kristalina Georgieva
Nguyen Giang