Prime Minister Nguyen Tan Dung has approved the results of negotiations between the State Bank of Vietnam (SBV) and the Asia Development Bank (ADB) for a US$500 million loan from the ADB to help Vietnam cope with the global economic downturn.
The PM has authorised the SBV Governor to sign the loan agreement with the ADB, under which the Ministry of Foreign Affairs and the Ministry of Justice will work closely with the SBV to finalise the legal procedures and put the agreement into effect as soon as possible.
Mr Dung also asked the Ministry of Planning and Investment to set up an inter-ministry sub-committee to monitor the loan and the agencies concerned to speed up the disbursement so that it is used effectively.
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