ADB Always Facilitates Funding for Vietnam

The Asian Development Bank (ADB) is estimated to lend Vietnam US$4.1 billion in 2010, including US$3.5 billion from the Ordinary Capital Resources (OCR) and US$600 million from the Asian Development Fund (ADF).

 

At a review conference on the implementation of ADB projects in 2010, the Ministry of Planning and Investment said that ADB has provided a credit of US$9.3 billion for 94 public projects since 1993.

 

Previously, the ADB lent approximately US$250-300 million to Vietnam a year, using ADF’s preferential loans. Since 2004, the agreement on OCR was signed between the Government of Vietnam and the ADB. The lender then increased the annual credit for Vietnam to US$1 billion in 2008, US$ 2.3 billion in 2009 and US$ 1.5 billion in 2010. For the private sector, ADB granted 11 loans with a total value of U$S305 million.

 

As of July 31, 2010, net loans for Vietnam totalled US$5.38 billion for 41 projects, six programmes, a development finance institution (DFI) credit, and a combined DFI-project loan. Sectors receive the most funding, including transport and ICT (34.7 percent), energy (32.8 percent), and agriculture and natural resources (14.0 percent). Besides, the lender granted 20 non-refundable aids and 48 technical assistance projects worth US$124.3 million and US$63.2 million, respectively.