ADB to Fund US$6B for Vietnam Development Projects in Next 3 Years
The Asian Development Bank (ADB) will lend US$6 billion to Vietnamese development projects in the next three years, according to Deputy Country Director of ADB in Vietnam Yumiko Tamura.
Yumiko Tamura said the loan will include US$1 billion from Ordinary Capital Resources (OCR), US$500 million from the Asian Development Fund and US$500 million from international financial organizations and private groups.
The funding, which will mainly go to projects in the areas of infrastructure, energy, education and health in the country, is aimed to help Vietnam to implement its socio-economic development plan in the 2010-2015 period, the ADB official added.
The ADB pledged to fund US$1.5 billion in loans to 16 projects and programs in Vietnam this year.
As of end-2009, the ADB provided over US$8 billion for 87 projects and programs in Vietnam, including US$3.15 billion disbursed, making the Southeast Asian country become its third largest aid recipient behind Bangladesh and Pakistan. (People’s Police)
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