ADB to Finance Nearly US$4 Bln for 23 Projects in Viet Nam in 2024-2026

11:13:03 AM | 1/27/2024

The Asian Development Bank (ADB) planned to finance nearly US$4 billion for 23 projects in Viet Nam during the 2024-2026 period, including those in green economy and sustainable economy.

Director General for Southeast Asia at ADB Winfried Wicklein announced the above funding during his working session with Deputy Minister of Finance Le Tan Can in Ha Noi on January 22. 

Winfried Wicklein said, ADB has provided some policy-based lending for ASEAN countries in building and developing infrastructure, improving the environment, coping with climate change, and developing industries and sectors.

ADB wishes to continue to work with Viet Nam in these areas to tighten the relationship between the two sides in the coming time, he emphasized.

In its Country Partnership Strategy (CPS) in Viet Nam for 2023-2026, it aims to promote comprehensive, green development and the growth of the private sector to help the Southeast Asian nation become an upper middle-income country by 2030 and a developed, and high-income country by 2045.

Earlier, British International Investment (BII), the UK's development finance institution (DFI) and the ADB announced a new partnership to finance up to US$100 million of green trade transactions in Asia, including Viet Nam.

Established in 1966, ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It has committed 457 public sector loans, grants, and technical assistance totaling US$16.5 billion to Viet Nam.

Source: VGP