Representatives from the Asian Development Bank (ADB) and the State Bank of Vietnam signed in Hanoi on December 7 agreements to provide loans totalling US$111 million to help Vietnam’s poverty reduction programme and natural recovery efforts.
Of the signed agreements, the first is on a US$15-million loan aimed at supporting a multi-donor programme to reduce poverty in Vietnam. Meanwhile, the US$45-million loan will be used for a project to help address deforestation as well as rural poverty in Vietnam’s Central Highlands.
Additionally, the ADB pledged to provide US$51 million to help rehabilitate and improve infrastructure in Vietnam’s poor areas severely damaged by typhoons in 2005. The three-year project, covering 10 of the most affected provinces in the country, is based on the damage and needs assessment made jointly by the Vietnamese Government and the ADB in March-April 2006.
The project will help about 450,000 people resume their normal lives by rehabilitating essential infrastructure, including roads, flood protection, irrigation systems, schools and water supply.
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