ADB to Continue Providing Soft Loans for Vietnam until 2019: President

The Asian Development Bank (ADB) pledged to extend the provision of its preferential loans for Vietnam until 2019, President Tahehiko Nakao said at a meeting on Jan 18 with Prime Minister Nguyen Xuan Phuc on the sidelines of the World Economic Forum in Davos. ADB also expects to boost long-term strategic cooperation with Vietnam, Mr. Nakao, adding that Vietnam must not make fast payments to the bank and the bank will support the country in launching projects within the framework of Greater Mekong Subregion (GMS) cooperation. The two sides agreed to accelerate projects in infrastructure, climate change response, economic restructuring and poverty reduction and work with GMS member states to prepare for the sixth GMS Summit in Vietnam. At a meeting, PM Phuc asked the lender to assist Vietnam in transport infrastructure upgrades, energy, administrative procedure simplification, and trade and investment facilitation in the Greater Mekong Sub-region (GMS). He invited the ADB President and leaders to attend the Asia-Pacific Economic Cooperation (APEC) forum High-Level Week in the central city of Danang in November and related meetings in Vietnam. (Viettimes Jan 19, vov.vn Jan 19)