ADB Lends Vietnam US$3 Billion

The Asian Development Bank (ADB) has announced a new supporting strategy for Vietnam with a planned lending of US$3 billion from 2007 to 2009.

 

The ADB strategy will focus on The ADB said its new assistance strategy focused on business-led and pro-poor economic growth that is supported by social equity, balanced development, and environmental sustainability. The ADB plan also stresses the need to support the improvement of governance and control corruption. Apart from projects amounting to US$3 billion, ADB also sponsors for regional projects and private sector operations. Assistance under ADB’s concessional loan facility, the Asian Development Fund, is expected to increase from the current U$220 million a year to about US$$300 million a year.