On 29 June 2023, the World Bank approved a US$263.9 million International Development Association credit for Vietnam’s economic recovery. The operation supported reforms intended to help households and businesses while advancing renewable energy and digital public administration.
It was the second and final operation in a development policy financing series, following US$221.5 million approved in 2021. The bank said the series had already helped more than 140,000 businesses receive tax support through a 2021 relief package.
More than 85,000 children had received subsidised childcare, while the number of government services available online had doubled. These measures connected business recovery with access to work and the practical cost of using public services.
Further reforms covered the tax environment, financial inclusion, childcare access, procurement and the power sector’s financial sustainability. The announcement set out expected policy benefits, rather than guaranteeing later results. Its historical significance lies in treating business resilience, social support and energy transition as connected parts of recovery.