The World Bank has agreed in principal to a request for between US$5-7 billion requested to build infrastructure projects including railways, roads, and urban infrastructure, but with caveats, Doang Nhan Viet is reporting. Specifically, the WB wants more details including specific details of the projects and deadlines for the projects and how those deadlines will be met.
Why it matters: A number of big international institutions, the World Bank, the Asian Development Bank, and the International Monetary Fund, for example, have been pushing Vietnam to spend more on infrastructure to give the economy a much-needed boost. Reading between the lines of this latest announcement, it looks like these suggestions are being acknowledged and this could be a welcome sign for the local economy–though notably, it is only early days.