ADB pledges to help maintain sustainable development of VN’s economy

Deputy PM, FM Pham Binh Minh (R) receives Vice-President of the Asian Development Bank (ADB) Ahmed Saeed, Ha Noi, July 2, 2019 - Photo: VGP/Hai Minh

At the reception, the Vietnamese Deputy PM affirmed that Viet Nam attaches importance to the relationship with the ADB, one of the country’s leading sponsors for loans, technical assistance and consultation. 

The ADB has actively supported policy consultation and institution establishment for the Vietnamese Government agencies, including the Government Office of Viet Nam in launching the e-Consultation and e-Cabinet.   

The ADB has financed 173 programs and projects worth more than US$16 billion and provided a non-refundable aid valued at US$340 million for the nation. 

Minh spoke highly of the ADB financing seven programs in the fiscal year 2018 worth US$676.96 million before the nation “graduated” from the ADB’s preferential loan since January 1, 2019. 

Deputy PM Minh referred to his recent direct dialogue with representatives of six sponsors in Ha Noi to discuss measures to boost the rate of progress and improve the effectiveness of the Official Development Assistance (ODA) in the time ahead. 

He suggested the ADB continues providing flexibility for Viet Nam in getting access to less preferential capital sources or connecting loans with aid to reduce borrowing costs and ensuring safety for public debt. 

Ahmed Saeed highly appraised the Vietnamese Government’s close supervision and direction on ODA-sponsored projects from six sponsors, including the ADB, especially after the National Steering Committee for Official Development Assistance (ODA) and Preferential Loans was set up. 

The Committee not only contributes to enhancing the effectiveness of the ODA use but also strengthens the knowledge between Viet Nam and sponsors, thus tackling obstacles and difficulties, he stressed. 

He highly appraised experiences of Viet Nam, regarding the nation as a model in ODA use. 

By Thuy Dung