Vietnam to be removed from WB’s list of poor countries in next 3 years

Vietnam will likely become a country with average income and be removed from the World Bank’s list of poor countries in the next three years, according to James Adams, Asia-Pacific Vice President of the WB.

The prediction was made by Mr Adams during his working visit to Vietnam from September 5-8 to inspect WB projects in the central provinces of Khanh Hoa and Lam Dong.

The WB official said the recent inflation could slow down the progress made by Vietnam.

He added that the WB will continue to provide Vietnam with low-interest loans (0.75 percent per year) and lengthen the duration of debt payment.

Vietnam is one of the countries receiving the most preferential loans from the WB. Last year, it borrowed about US$1 billion from the institution.

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