ADB continues supporting Vietnam’s development projects
President of the Asian Development Bank (ADB) Takehiko Nakeo has stated that the bank will continue providing preferential loans and technical support for Vietnam’s projects in the coming time.
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| Finance Minister Dinh Tien Dung (R) and ADB President Takehiko Nakeo |
For his part, Minister Dung asked the bank to continue prioritizing preferential loans and extending loan terms for Vietnam, and supporting the Vietnamese Government in selecting investment projects that will bring high efficiency.
ADB is one of Vietnam’s important partners and donors, Dung said, affirming that the bank’s assistance helped Vietnam realise its targets, particularly in public financial reform, market development, securities and customs.
The official also informed the ADB official about issues related to Vietnam’s public debts and solutions taken by the Government to inflation control and budget deficit reduction, saying that these remarkably contributed to restructuring public debts, ensuring debt safet y and State budget sustainability.
The Ministry of Finance has worked and given advices to the Government to perfect laws relating to public debt management, and adjust Vietnam’s Public Debt Strategy to 2020 and a vision to 2030 in accordance with international regulations, Dung noted.
He also mentioned measures to improve the efficiency of State-owned enterprises, promote restructuring of the stock market and public-private partnership (PPP), and address bad debts, and policies to develop small- and medium-sized enterprises.
As of 2015, loans pledged by ADB for Vietnam totally valued at US$11.5 billion, including US$5.5 billion from the Asian Development Fund and US$6 billion from ADB's Ordinary Capital Resources ( OCR ).
Total value of technical supports the bank provided for Vietnam was about US$253 million. The bank’s fund targeted infrastructure projects for socio-economic development, policy and institution reform, and poverty reduction programmes.
