Friday, August 18 2017

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VN will do utmost to support AIIB: PM

Update: March, 08/2017 - 15:00
PM Nguyễn Xuân Phúc (right) received Asian Infrastructure Investment Bank President Jin Liqun on Tuesday. – VNA/VNS Photo
Viet Nam News

HÀ NỘI – Việt Nam will strongly support the activities of Asian Infrastructure Investment Bank (AIIB), Prime Minister Nguyễn Xuân Phúc said as he welcomed its president Jin Liqun in Hà Nội.

The co-operation with AIIB "is important to Việt Nam, and it will continue collaborating with the bank as a trustworthy and responsible partner", Phúc said on Tuesday.

The State Bank of Việt Nam, the country’s representative at international financial and monetary organisations such as the World Bank, Asian Development Bank and International Monetary Fund, will also take charge of the country’s obligations to and activities with AIIB.

Việt Nam is opting for both Official Development Assistance (ODA) and commercial loans to develop infrastructure, while keeping public debt within limits. "In this situation, AIIB’s low-interest loans, which don’t require government guarantee, are valuable to the country", the PM said.

The state hoped that apart from aiding the public sector, AIIB would also support the private sector in infrastructure projects, Phúc said, adding that with mutual understanding and common effort, AIIB would be able to benefit the course of development in Việt Nam.

"The bank not only offers loans but also brings modern, environment-friendly technology and jobs to the country", he said.

At the meeting, AIIB president Jin said his bank was keen to enable local development.

AIIB could give the country loans at concessional terms, which were good for economic development, he said.

The bank "will offer loans without government guarantee for the private sector too as the country has the trust of the international community", he said, suggesting that the government support AIIB’s loans to the private sector with macro-economic stability and a stable legal system.

"If Việt Nam pays attention to infrastructure development, it will see greater socio-economic achievements in the coming years", he said. – VNS

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