The Australian Government and the World Bank have formally agreed to extend their partnership in support of Vietnam’s sustainable and inclusive development agenda. The partnership started in Vietnam 2012 and will now continue until 2026, valued at AUD95 million.
Australia and World Bank teams at the signing ceremony
"For Vietnam to realise its ambition to become a high-income country in 2045, the legislative reform process and strong governance continue to be essential," he said. "We are proud to be supporting this ambition in partnership with the World Bank.”
The partnership is designed to support Vietnam’s development agenda by providing data, analysis and technical assistance to support policies that are informed, inclusive and sustainable.
According to Carolyn Turk, World Bank Country Director for Vietnam, the areas of support include institutional reforms, social equity and inclusion, the transition to a low carbon economy and innovation- driven growth.
Over the past five years, the Australian and World Bank partnership has had an impact on more than 58 policies and regulations and helped drive meaningful legislative change. Recent examples include the Prime Minister’s decision on the Mekong Delta Regional Master Plan for 2021-30, the Ministry of Labor, Invalids and Social Affairs’ circular on career guidance and job counseling that is estimated to benefit over 2 million students, and its guidance on the rollout of digital social assistance payments to all 63 provinces with approximately 3.50 million beneficiaries. The partnership also provided data that helped informed improvements in child-care services for the Labour Code of 2019.
These successes have led to a renewed commitment to 2026.
