Wednesday, October 26 2016


Finance banks talk development

Update: May, 16/2015 - 10:38
Containers are being unloaded at Cat Lai Port in HCM City. Viet Namhas targeted infrastructure development as one of its strategic breakthroughs in economic development. — VNA/VNS Photo Ha Thai
HA NOI  (VNS) — Speaking to a room full of representatives of financial institutions from across the Asia and Pacific region, Deputy Prime Minister Vu Van Ninh stressed how infrastructure development was one of Viet Nam's three strategic breakthroughs in socio-economic development.

Viet Nam Development Bank (VDB) hosted the 38th annual meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) by in Nha Trang City on Thursday.

Ninh said the meeting's theme - sustainable infrastructure: policy framework, operational best practices and challenges - was practical, given Viet Nam's current efforts to sustainable development. He stressed that the Government of Viet Nam was willing to support financial institutions interested in funding infrastructure development projects in Viet Nam.

Ninh also said that the Government was headed towards developing infrastructure that helps achieve sustainable development, which he believed would harmonise economic growth, social development and environmental protection.

In Viet Nam, many large-scale infrastructure projects like highways, airports, seaports and energy projects are underway.

ADFIAP chairman Pema Tshering, said that development finance institutions played a role in advancing sustainable infrastructure and developing innovative solutions to the region's growing infrastructure needs.

He cited ADB's estimate that energy, transportation, telecommunications, water and sanitation projects demand US$750 billion in funds a year.

Nguyen Quang Dung, VDB's chairman said that the three-day meeting which ended yesterday provided a chance for the 131 member institutions, from 45 countries and territories in the region, to exchange information and enhance co-operation in financing infrastructure projects. — VNS

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