The European Commission (EC) is very happy that ASEM Trust Fund 2 has become an important source of technical assistance for Vietnam in restructuring State owned enterprises, banking reform and social welfare.
Christoph Wiesner, a representative of the EC delegation in Vietnam, made the remark at a meeting held in Hanoi on October 19 to review the activities of ASEM Trust Fund 2 in Vietnam.
He said that the fund has helped Vietnam in hunger elimination, poverty reduction and social welfare as well as improving the understanding at all levels of the concerned parties in finance, banking and social insurance.
Up to now, the ASEM Trust Fund 2 had provided 17 grants worth more than US$9 million to Vietnam's projects on business finance and social welfare.
ASEM Trust Fund 1 was set up in 1998 at the Asia-Europe Meeting in London with total contributions of over US$43 million. The contributors were China, Denmark, the EC, Finland, France, Italy, Luxembourg, the Netherlands, Sweden and the UK.
With additional funding from the Republic of Korea and Thailand, ASEM Trust Fund 2 was established in 2001 with total contributions of over US$40 million. Grants have been made to five East Asian countries: China, Indonesia, the Philippines, Thailand and Vietnam.
