ADB Finances US$50.5 Mln to Help Vietnam Reduce Poverty
The Asia Development Bank (ADB) has just decided to fund US$50.5 million to help Vietnam implement its poverty reduction program and restore damaged rural infrastructure by storms in 2005.
Of which, US$25 million will be used for poverty reduction and US$25.5 million to develop infrastructure networks in Vietnam’s ten hardest-stricken provinces of Ha Giang, Ha Tinh, Nam Dinh, Nghe An, Phu Tho, Phu Yen, Quang Binh, Quang Tri, Thanh Hoa and Yen Bai.
Prime Minister Nguyen Tan Dung has approved the ADB-funded project to map out solutions to integrate climate change problems into economic development plans.
The ADB has pledged to increased ODA loans to US$1.5 billion from US$1.35 billion for Vietnam next year to support its economic development plans to become medium earner. (Ha Noi Moi Online)
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