ADB Pledges US$225 Mln Investment in Vietnam in 2005

The Asian Development Bank (ADB) will increase its investments in Vietnam to US$225 million in 2005, Director General of the ADB's Mekong Department Rajat M. Nag has announced.

Meeting with Deputy Prime Minister Pham Gia Khiem in Hanoi on February 24, Mr Nag said ADB-funded projects have been conducted well in Vietnam over the past time.

ABD resumed operations with Vietnam in 1993. By June 2004, ADB had provided 44 loans to the Southeast Asian country amounting to US$2.6 billion and 148 technical assistance grants totaling US$101.2 million.

• L.D