Vietnam wants to promote committed projects with ADB

Quang appreciated the ADB’s assistance and support to Vietnam over the past 30 years in multiple fields, especially hunger eradication and poverty reduction, health care, education, and transport infrastructure.

Such support also motivates and inspires partners to provide assistance to Vietnam, making an important contribution to the achievements that the country has recorded on its path of reform, international integration and sustainable development, said the Deputy PM.

He proposed that the two sides coordinate closely to accelerate the implementation of committed projects. He acknowledged the bank’s efforts in mobilizing resources for about 23 projects in Vietnam in the 2023-2026 period, and said Vietnam will continue to review and improve the legal framework on ODA and foreign concessional loans to effectively use funding from donor partners in general and the ADB in particular.

The Deputy PM also voiced his support for the ADB’s organizational reform and restructuring efforts to improve funding efficiency for countries.

Chakraborty for his part congratulated Vietnam on securing high economic growth in the context of global volatility, saying that the ADB has maintained its growth forecast of 6% and 6.2% for Vietnam in 2024 and 2025 respectively.

Emphasizing that Vietnam is one of the ADB’s important partners and the largest user of the bank’s trade finance resources, Chakraborty said the bank wishes to coordinate closely with Vietnam to harmonize procedures between the two sides to promote lending activities in Vietnam, especially for key national projects, green growth, and emission reduction commitments.

By the end of December 2023, the ADB had committed 458 loans, grants and technical assistance to Vietnam’s public sector with a total value of US$16.5 billion.