ADB agrees $3.8 bn loan for Vietnam
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The Asian Development Bank (ADB) will lend Vietnam US$3.8 billion (Bt120 billion) to promote socio-economic growth between 2013 and 2015, it announced yesterday.
About $2.6 billion would come from ordinary capital resources and $1.2 billion from concessional Asian Development Funds. Funding for technical assistance could reach $8 million annually.
ADB said it had agreed on a new four-year country partnership strategy (CPS) with Vietnam that will focus on promoting inclusive and sustainable growth, as well as economic efficiency. “Vietnam has experienced rapid GDP growth and remarkable poverty reduction over the past two decades. There are still persisting pockets of poverty, however, and longer-term structural constraints continue to be a concern,” said Stephen Groff, ADB vice-president for operations in East Asia, Southeast Asia and the Pacific.
