PM urges EIB to provide Vietnam with new-generation ODA loans
Prime Minister Pham Minh Chinh proposed the bank and Vietnam sign a new-generation official development assistance (ODA) agreement with a larger financial scale, more preferential interest rates, simpler procedures, and less stringent conditions.
Prime Minister Pham Minh Chinh (R) welcomes Vice-President of the European Investment Bank Nicola Beer (Photo: VNA)
Hanoi (VNA) - Prime Minister Pham Minh Chinh received Vice-President of the European Investment Bank (EIB) Nicola Beer in Hanoi on March 12, during which he proposed the bank and Vietnam sign a new-generation official development assistance (ODA) agreement with a larger financial scale, more preferential interest rates, simpler procedures, and less stringent conditions.
This can not only provide financing for the public sector, but also support financial access for the private sector, Chinh suggested.
In addition to promoting ongoing projects, the PM suggested the bank continue to provide funding for Vietnam and support the country in mobilising capital sources, while offering preferential financial packages for energy transition and large-scale strategic infrastructure development projects, including transportation, healthcare, and education infrastucture. He also called for EIB's assistance in establishing and operating international financial centres in Vietnam.
Reaffirming Vietnam's strong commitment to green and energy transition, especially within the cooperation framework with the EU and the Just Energy Transition Partnership (JETP), the Government leader urged the EIB to share its expertise in mobilising green financial resources, building preferential mechanisms and innovative financial solutions to facilitate renewable energy projects, emissions reduction, and climate adaptation.
An overview of the meeting (Photo: VNA)
For her part, Beer stated that as one of the world's leading banks, the EIB has maintained financial cooperation with Vietnam since 1997, supporting the country in infrastructure, environment, and energy development, including metro line projects in Hanoi and Ho Chi Minh City. She stressed that with its ability to mobilise capital from European countries and financial institutions, the bank is willing to assist Vietnam through concrete projects, contributing to the country’s goal of 8% growth in 2025 and double-digit growth in the following years.
She expressed her hope that Vietnam will continue administrative reforms to accelerate the disbursement of EIB funding into development projects. She also reaffirmed the bank’s readiness to support Vietnam in developing financial centres, transferring advanced technology, and training human resources as proposed by PM Chinh./.
The European Union (EU)'s investment in Vietnam now tops 30.4 billion USD, ranking as the sixth largest foreign investor in Vietnam. Two-way trade hit 68.5 billion USD last year.
European investments are expected to pick up in Vietnam following Prime Minister Pham Minh Chinh’s engagement with Czech and Polish enterprises as part of his trip to Europe to attend the 55th Annual Meeting of the World Economic Forum.
The Government on January 15 issued a resolution on visa exemptions for citizens of Poland, the Czech Republic and Switzerland as part of a tourism stimulus programme in 2025.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
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NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
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Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
