ADB to give support to Vietnam in six fields

Asian Development Bank (ADB) has recently approved for Vietnam about 4-year new Country Partnership Strategy (CPS) focusing on promoting harmonious growth and improving economic efficiency and sustainable environment.

Although Vietnam has overcome the global financial crisis successfully, ADB thinks that inflation instability is a controversial problem. Vietnam’s national competing ability is still limited due to the lack of skilled workers, weak infrastructure as well as restructuring railings such as State enterprises’ weaknesses and none-depth banking system.

Accordingly, the new strategy will give Vietnam supports in six key fields including agriculture and natural resources, education, energy, finance, transportation, water supply and other urban infrastructures.

This strategy will continue supporting reforms in administration and policies including State enterprise reformation, harmonious growing promotion through difficult area supporting, strengthening government’s ability in environmental and climate change challenges.

In addition, ADB supported infrastructure, rural development and education will improve economic opportunities and service approaching for the poor.

In public administration, ADB will support policy reformations to improve economic efficiency, upgrade social services for the poor and limiting risks from outside and inside sudden change pulling them back to poverty.

Total loans in Vietnam in 2013 – 2015 period may reach $2.6 billion from normal capital sources and $1.2 billion from preferred funds of Asian Development Fund. Technique supporting capital may be $8 million per year.

 

Category: Finance