The Asian Development Bank (ADB) and Vietnam have agreed on a new four-year country partnership strategy (CPS) that will focus on promoting inclusive and sustainable growth, and economic efficiency.
According to an ADB press statement issued here on Thursday, Vietnam has made impressive progress in reducing poverty, regional disparities remain, with poverty most among ethnic minority groups.
However, the poor are vulnerable to environmental degradation and climate change, it said adding adapting infrastructure and building climate resilience will safeguard human and natural resources, and protect the poor, it added.
The new strategy will focus support on six core sectors: agriculture and natural resources; education; energy; finance; transport; and water supply and other municipal infrastructure.
It will continue to support structural and policy reforms including reforms, promote inclusive growth by targeting disadvantaged regions, and strengthen the government’s ability to address environmental and climate change challenges.
ADB’s support for infrastructure, rural development, and education will help enhance the poor’s economic opportunities and access to services.
ADB’s engagement in public sector management supports policy and institutional reforms for enhancing economic efficiency and improving social services for the poor while minimising the risk of external and internal shocks pushing them back into poverty.
Planning figures suggest total lending for 2013-2015 could amount to $2.6 billion from ordinary capital resources and $1.2 billion from concessional Asian Development Fund.
Funding for technical assistance could reach $8 million annually, the press statement added.