Prime Minister Pham Minh Chinh met with World Bank (WB) Group President Ajay Banga on December 2 on the sidelines of the 28th UN Climate Change Conference (COP28) in Dubai, UAE, where he urged it to establish a regional office in Vietnam, according to a report from the Government News.

The Vietnamese leader expressed his appreciation of the WB’s support for and cooperation with Vietnam over the years, particularly its policy recommendations and funding, which have made effective contributions to the country’s socio-economic development and poverty reduction efforts.

Mr. Banga, for his part, congratulated Vietnam on its recent economic achievements, and affirmed that the WB will continue its support and assistance for the country, which it views as an important partner.

He highly regards the government’s efforts and determination in green transition, climate change response, and sustainable development.

The WB leader suggested that Vietnam consider joining global carbon markets, and pledged to help it realize its climate commitments.

Vietnam and the World Bank have discussed loans of $5-7 billion over the past three years to deploy projects on the development of renewable energy, planting a million hectares of high-quality, low-emissions rice, climate change, digital transformation, and green transition.