Based on the “ABC” approach targeted to assess all available sources of financing (official development finance, private investment, domestic resources, and remittances), the Viet Nam country pilot study explores the challenges of transition finance in a middle-income country in the Asia-Pacific region. After launching a series of successful reforms beginning in the late 1980s, Viet Nam has undergone an impressive transformation, which turned the country from a centrally planned to a market-oriented economy and from a low-income to a lower middle-income country. At the same time, Viet Nam is moving from a relatively high reliance on ODA and other external sources towards non-concessional sources and domestic sources. Through evolving partnerships, development partners can align their support with newly arising needs, actively supporting Viet Nam overcome the middle-income trap and move towards a trajectory for more sustainable development.