ADB to Continue Providing ODA for Vietnam Next Years

The Asian Development Bank (ADB) will continue providing official development assistance (ODA) for Vietnam in the years to come, JeaJung Song ADB Executive Director said. He made the commitment at a meeting with the State Bank of Vietnam (SBV) Governor Nguyen Van Giau in Hanoi on June 24, the Cong An Nhan dan newspaper reported June 25. The funding will go to clean energy and infrastructure projects as well as programs to boost cooperation between the Vietnamese government and the private sector, JeaJung Song added. At the meeting, Giau highlighted the ADB’s contributions in socio-economic development in Vietnam and he called for more supports from the bank. Earlier, the ADB pledged to fund $1.5 billion in loans to 16 projects and programs in Vietnam this year. As of end-2009, the ADB provided over $8 billion for 87 projects and programs in Vietnam, making the country become its third largest aid recipient behind Bangladesh and Pakistan.