ADB to provide Vietnam with $600 mln in loans

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Báo Tuổi Trẻ English - 102 month(s) ago 5 readings

Asian Development Bank will lend Vietnam US$600 million in loans for administrative reform and poverty alleviation.

They include a 24-year loan of $100 million to reform administration for enterprises development and natural resources management; and a $500 million loan on a five-year term from the bank’s Competitiveness Support Fund (CSF).

The latter loan is meant to assist Vietnam in funding major public programs for social welfare.

At the signing ceremony held Tuesday in Hanoi, Vietnam’s state bank governor Nguyen Van Giau said the nation began suffering from the global recession from the middle of last year.

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