Viet Nam pledges to use ADB funding effectively

Update: January, 16/2014 - 08:44
Prime Minister Nguyen Tan Dung (R) meets ADB President Takehiko Nakao in Ha Noi yesterday.

HA NOI (VNS)— Viet Nam is committed to using loans provided by the Asian Development Bank (ADB) to develop the nation's economy, said Prime Minister Nguyen Tan Dung.

Further, Viet Nam would arrange for the country's contribution of capital and speed land clearance to help disburse the loans from ADB, he said, while receiving visiting ADB President Takehiko Nakao yesterday.

The Vietnamese Government appreciates ADB's assistance in providing capital, policy consulting and, particularly, the bank's assistance, worth more than US$13 billion, which is contributing to Viet Nam's poverty reduction, Dung said.

Also, the Prime Minister urged the bank's chief to remain involved in the co-operation between ADB and Viet Nam and continue granting Viet Nam with future assistance.

For his part, the ADB president proposed Viet Nam continue speeding the disbursement of ADB capital and affirmed that ADB was willing to support Viet Nam in infrastructure development, particularly transport infrastructure, energy and health care, as well as in restructuring State businesses.

He added that the bank would continue to work closely with Viet Nam and hailed the Vietnamese Government's support in co-operation with ADB, as well as the country's poverty reduction efforts. — VNS