Vietnam effectively uses WB, ADB loans
(VOV) - Vietnam has been considered a country effectively accessing preferential loans from the World Bank (WB), Asian Development Bank (ADB) and International Monetary Fund (IMF) over the past five years.
The State Bank of Vietnam (SBV) representative said on December 8 that the bank has negotiated and signed with WB 55 loan projects worth US$8 billion, bringing the total number of projects approved by WB to 160 worth US$20.1 billion by June 2015.
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In the period, it also signed with ADB 45 projects valued at nearly US$4.5 billion, lifting the total number of ADB approved projects to 147 worth US$13.65 billion.
The projects mainly focussed on climate change and economic restructuring, which have actively contributed to the national socio-economic development and poverty reduction process, particularly in remote and mountainous areas.