ASEM Trust Fund 2 Helps Vietnam's Reform

The ASEM Asian Financial Crisis Response Fund 2 (ASEM Trust Fund 2) closed on October 19 after five years’ operation with a total value of US$40,833,350. The fund was established in 2001 to help five countries, China, Indonesia, the Philippines, Thailand and Vietnam. Vietnam received 17 grants with a total value of US$9.2 million. By October 16, 2006, more than US$8.672 million had been disbursed.

 

Christoph Wiesner, charge d’affaires of the Delegation of the European Commission to Vietnam, which is the biggest sponsor of the ASEM Trust Fund 2, said that the fund became an important technical support source for Vietnam. It met basic issues of the renewal of State-owned enterprises, the banking sector, and social programmes. It also provided knowledge and skills for Vietnamese officials in building Vietnam’s policies, helping local policymakers get access to experience of other countries.

In particular, ASEM Trust Fund 2 helped the efforts of the Vietnamese Government in poverty reduction and social condition improvement.