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Hanoi, July 25 (ANI): The World Bank has said that it is willing to provide Official Development Assistance (ODA) and International Development Association (IDA) loans to Vietnam.

The Xinhua news agency quoted a senior bank official, as saying that the loans will help Vietnam to raise its funding budget for the asset management company VAMC, a unit designed to deal with bad debts.

Victoria Kwakwa, the World Bank’s country director for Vietnam, said this at a meeting with Vietnamese Prime Minister Nguyen Tan Dung.

During the meeting, Kwakwa proposed that there was a need for Vietnam to manage its budget expenditure more prudently and promote a restructure plan.

She said that her priority was to coordinate with various Vietnamese ministries and sectors to prepare for the signing and implementation of credit agreements for the country during the 17th IDA replenishment round.

Prime Minister Dung said that he would the necessary steps to get the Vietnamese economy back on track. (ANI with inputs)

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