ADB helps VN reduce poverty, develop tourism and lessen natural calamities
17:36 | 29/12/2008
VGP – Governor Nguyễn Văn Giàu of the State Bank of Việt Nam (SBV) and Country Director, Chief representative of the Asia Development Bank (ADB) Ayumi Konishi signed three loan pacts worth of US $65.5 million today in Hà Nội.

Photo: VGP

The loans will be used to finance the poverty alleviation program V, sustainable tourist development in the greater Mekong Sub-region and address consequences of natural disasters occurred in 2005.

With US $25 million for poverty reduction, ADB wants to assist the Vietnamese Government to renew some specific policies in order to successfully implement the socio-economic development plan 2006-2010.

Under the project on sustainable tourist development in the greater Mekong sub-region, a loan of US $10 million will be provided to upgrade tourist infrastructure, protect and conserve natural and cultural heritages. The project will be conducted in five provinces of Cao Bằng, Bắc Kạn, Thừa Thiên-Huế, Quảng Bình and Quảng Trị.

ADB also pledged to give US $25.5 million to localities seriously damaged by the flood in 2005. The money is mainly poured into restoring essential infrastructure works and building an anti-flood system.

Việt Nam will also recive a non-refundable aid of US $500,000 from the ADB-manipulated e-Asia and Knowledge Partnership Fund in the Republic of Korea to improve the capacity of coping with natural disasters.

By Hoàng Hạnh

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