ADB to Provide More Loans for Vietnam Next Years: Director Kimura

The Asian Development Bank (ADB) will scale up loans for Vietnam in the years to come, ADB Director Tomoyuki Kimura said at a meeting with Vice Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong in Hanoi on May 13. ADB will merge loans from the ordinary capital resources (OCR) with the Asian Development Fund (ADF) in the near future, Mr. Kimura said, expecting that it will further discuss the restructuring of banks in Vietnam. Between 1993 and 2013, ADB, one of Vietnam’s biggest donors, provided the country with $12.5 billion. It pledged to finance $3.7 billion for Vietnam in the 2015-2017 period to help the nation realize its growth target of 6.2% in 2015 and 6.5% in the 2016-2020 period. Vietnam should continue to reform state-run enterprises (SOEs), provide financial support for private firms and attract more foreign direct investment (FDI) during its economic restructuring, President Takehiko Nakao earlier said. (Thoi Bao Ngan Hang May – Banking Times 14 p2)