The Ministry of Finance (MoF) and the World Bank (WB) have agreed to develop a pipeline of WB-funded projects for the 2026–2030 period, with a focus on improving public investment efficiency while ensuring public debt sustainability.

Minister of Finance Ngo Van Tuan speaks at the meeting.

The agreement was reached during a meeting between Minister of Finance Ngo Van Tuan and WB Country Director for Vietnam, Cambodia and Laos Mariam J. Sherman in Hanoi on July 28.

According to the MoF, the meeting reviewed progress since the two sides met in May 2026, discussed remaining issues and outlined priorities for future cooperation.

Tuan spoke highly of the long-standing and fruitful partnership between Vietnam and the WB Group while appreciating the close coordination between the ministry and the WB's Vietnam office.

He said ministry agencies have actively worked with the WB to implement the agreed activities and review bilateral efforts and commitments, with cooperation making positive progress and no major obstacles emerging.

Sherman commended the ministry's role in coordinating Vietnam's borrowing needs, saying the close cooperation has helped the WB gain a clearer understanding of the country's financing priorities and development needs.

The ministry's Department of Debt Management and External Economic Relations has submitted Vietnam's borrowing demand proposals for 2026–2030, based on requests from ministries, sectors and localities, as the basis for preparing the five-year lending programme.

According to a WB letter dated July 1, 2026, the proposed lending portfolio includes around 24 projects with an estimated total value of 9.3 billion USD. The projects mainly cover transport, energy, climate-resilient infrastructure and budget support.

Several projects have completed negotiations and are expected to be signed in August and September this year. Nine others have already received approval for loan proposals and are completing investment approval and feasibility study procedures.

The two sides agreed that priority should be given to projects with good preparation, clear financing needs, adequate counterpart funding and high implementation readiness.

They also discussed progress in developing the Country Partnership Framework (CPF), identifying pilot projects under the Multiphase Programmatic Approach (MPA) and fast-track mechanisms, budget support loans, high-tech projects proposed by the WB, and technical assistance for Vietnam's infrastructure finance programme and national investment fund.

Both sides stressed the need for a strong shift in the approach to WB borrowing, focusing on breakthrough directions, to maximise investment efficiency while safeguarding public debt sustainability.

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