Vietnam Borrows $80M from ADB for Health Security Project

Governor of the State Bank of Vietnam Le Minh Hung has recently signed the loan agreement to borrow $80 million from the Asian Development Bank (ADB) for the Greater Mekong Sub-region Health Security project. Accordingly, the project’s management agency is the Ministry of Health and the investor is the General Department of Preventive Medicine. The project will strengthen public health security mechanisms including surveillance and outbreak response, laboratory quality and biosafety, and health services access. The repayment period is 15 years, including 5 years of grace period. The interest rate is 2% during the loan period. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 marked 50 years of development partnership in the region. It is owned by 67 members, including 48 from the region. (sbv.gov.vn Jan 24)