Vietnam lost about $10 billion in 2020, or 3.2 per cent of its gross domestic product, to climate impacts, the World Bank Group’s Country Climate and Development Report for Vietnam stated.
Managing used plastic as a valuable resource provides a sound business case for scaling up recycling and other plastic circularity efforts, while promoting sustainable economic development, according to IFC – World Bank study.
Helping ease logistics constraints, continued testing and vaccination and encouraging labor mobility should be priorities, according to World Bank’s recommendations.
As Vietnam battles another wave of Covid-19, accelerating the pace of reforms, upgrading workforce skills and infrastructure will strengthen the private sector to help the country recover from the pandemic and unlock its potential, according to a new World Bank Group report.
While Vietnam’s prospects remain positive, World Bank said that the authorities should address the heightened social, financial, and fiscal risks.
It includes two operations designed to support the central government and Ho Chi Minh City in their efforts to improve urban management and promote a recovery that is inclusive, digitally transformative, and sustainable.
Thousands of micro, small, and medium enterprises, and millions of farmers across Asia and the Pacific stand to benefit from the first phase of Covid-19 crisis response funding from IFC, a member of the World Bank Group.
IFC, a member of the World Bank Group, is providing a financing package of $75 million to Phu My Hung Development Corporation to help sustain its property development operations, in the wake of Covid-19 impacts.
IFC, a member of the World Bank Group, has increased trade finance limits for Vietnamese banks as a rapid response initiative to address, in advance, potential trade finance challenges triggered by the outbreak of the novel coronavirus, known as COVID-19.
The credit facility aims to remove institutional bottlenecks to enable Vietnam’s largest city and economic powerhouse to address some of its most pressing urban governance challenges.
Growth of Vietnam’s economy is projected to moderate to 6.6 per cent in 2019, driven by credit tightening, slower private consumption and weaker external demand, according to World Bank.
The changing macroeconomic and sectoral context in Vietnam requires a new approach to financing electricity and gas investments, according to the World Bank Group.
Effective market institutions, and a transparent, clean and accountable state are lynchpins of development for Vietnam to resolve four key priorities including private sector, infrastructure, human capital and green growth, according to World Bank Vietnam.
A big challenge is how to mobilize the large investment requirements, estimated at around $8 billion annually to meet fast growing power demand, according to country director of World Bank in Vietnam Ousmane Dione.
