ADB Supporting Vietnam's Poverty Reduction Program

ADB has approved a US$15 million loan to support a multi donor program to reduce poverty in Vietnam. 

The loan provides this year’s ADB support to the framework, which donors are using to provide financial support to the Government's Comprehensive Poverty Reduction and Growth Strategy for 2002-2006. This year, the framework will provide $210 million to the Government.

Approval of the loan immediately followed the adoption of ADB’s new assistance strategy to Viet Nam.

Aside from ADB, the framework is supported by concessional loans from the World Bank (US$100 million), Japan Bank for International Cooperation, and Germany (€6 million).

Grants will also be provided by Spain (€3 million), Australia (A$10 million), Canada (Can$4 million), Denmark (DKr61 million), European Commission (€10 million), Ireland (€3 million), Netherlands (€9 million-14 million), Spain (€3 million), and the United Kingdom (£20 million).

The State Bank of Viet Nam is the executing agency for the program loan, which will be utilized until December 2007.