Overview

Australia is partnering with World Bank Group to focus on inclusive green growth, strengthen institutions, foster coordination and cooperation, build the capacity of the public sector, promote private sector development and a more competitive and transparent business environment while addressing gender equality. There are two programs that deliver this:

1. The Australia-World Bank Strategic Partnership – ABP2 ($50 mil 2017-2026) shares knowledge and strengthens development policies and programs for Vietnam's development priorities through policy dialogue, dissemination of analytical work and capacity building. The program impacts Vietnam's development agenda in six key areas related to low carbon infrastructure development, economic management and growth, climate resilient in the Mekong Delta, inclusion, digital transformation, and gender equality.

2. The Vietnam Private Sector Development Partnership – VPSDP ($15 mil 2022-2027),

delivered by the International Finance Corporation (IFC), supports Vietnam achieve its development objectives sustainably by promoting private sector development, transitioning to a green economy, support green financing and enhancing gender inclusion. The program is being implemented in four pillars including: Enabling Environment for the private sector; Accelerating inclusive and climate-smart private investment in key growth sectors; Creating a green, sustainable, and inclusive financial sector; Enhancing Gender Equality, Inclusive Development and strong ESG standards.

Results to date

• ABP2 has provided analysis, research and policy advices which drove legislative changes and implementation of policy. It has influenced 42 policies including Vietnam's Socio-Economic Development Plan 2021-25 and Strategy 2021-2030, the revision of the Gender Equality Law, Vietnam Green Growth Strategy 2021-30, Higher Education Strategy 2021-2030, and Vietnam's National Digital Transformation Program.
• ABP2 has hosted 94 high-level events sharing and disseminating knowledge widely, allowing thousands of people from different locations to join.
• VPSDP is scoping investments and is expected to enable environment for the private sector; accelerate inclusive and climate-smart investment in key growth sectors and create a green, sustainable and inclusive financial sector.