ADB Raises Lending to Vietnam to over US$226Mln in 2006
The Asian Development Bank (ADB) will increase its credit package for Vietnam from US$213 million in 2005 to US$226.56 million in 2006, announced the bank on January 23.
The bank added that Vietnam is likely to receive US$215 million in aid for the year 2007, attributed to its increasing economic development.
The funding will help Vietnam carry out projects on hydropower, HIV/AIDS prevention, livelihood improvement in the central highlands region and facilitating Vietnam’s integration into the Greater Mekong Sub-region including China, Laos, Thailand and Cambodia.
Notably, the ADB is the third largest lender to Vietnam in 2006 with total official development assistance (ODA) pledges worth US$539 million this year.
The bank also committed to providing US$200 million in loans and aid packages annually for the country’s development in the 2006-08 period.
Vietnam has been a member of the ADB since 1966.
P.V
Vietnamese
