ADB Ready to Support Vietnam in Accessing Loans and Promoting Sustainable Development
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- Business
- 21:32 23/01/2024
DNHN - The Deputy Minister of Finance wants ADB to support Vietnam in seeking non-refundable aid to reduce pressure on loans, especially in the context of fluctuations in secured overnight interest rates worldwide.
At the reception of Mr Winfried Wicklein - Director General of the Southeast Asia Department of the Asian Development Bank (ADB) and ADB officials on January 22, Deputy Minister of Finance Le Tan Can emphasised the positive role that ADB has played over the years, especially through the provision of policy advice and financial resources to support the Vietnamese Government. He also expressed optimism about the efforts and close cooperation between the two sides in perfecting the institutions and tools for public financial management.
One of the notable points is that the Deputy Minister of Finance provided information about the plan to implement the ADB grant portfolio for 2024. According to him, ADB plans to implement 23 projects in Vietnam in the 2024-2026 period, with a total value of 3.9 billion USD. However, he also noted that the ability to mobilise loans will depend largely on the progress of completing domestic investment procedures for each project.
The Deputy Minister of Finance wants ADB to support Vietnam in seeking non-refundable aid to reduce pressure on loans, especially in the context of fluctuations in secured overnight interest rates worldwide. He highly appreciated ADB’s Country Partnership Strategy 2023 - 2026 and affirmed that ADB’s support priorities are in line with Vietnam’s development direction.
Within the framework of the meeting, the two sides also discussed many other issues such as green finance, and private-sector investment. Mr Winfried Wicklein of ADB affirmed that he is ready to support Vietnam in accessing loan capital to cope with the budget deficit and fulfil its commitments on emission reduction and sustainable development.
P.V
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