The Asian Development Bank (ADB) plans to lend Vietnam up to USD3.9 billion in the 2012-2015 period, said ADB's Country Director in Vietnam Tomoyuki Kimura.
The transport sector will be the largest beneficiary of ADB's loan for Vietnam in 2012-2015 period
The figure is almost the same to the bank’s commitment for the country for the 2007-2010 period, said the bank official at a press conference held in Hanoi on October 31. He added that, during this phase, ADB will also offer Vietnam non-refundable aid of USD24.6 million.
According to Kimura, ADB plans to give Vietnam USD943 million for 2013 and 2014 and USD760 million in 2015 from its ordinary capital resources (OCR). The country will also receive USD385 million in 2013 and 2014 and USD395 million in 2015 from the bank’s Asian Development Fund (ADF).
He, however, noted that the real loan allocation from ADF for Vietnam in the 2013-2014 period will depend on the efficiency of the implementation of existing ADB-funded programmes in the nation. It means that if the current programmes show limited efficiency, the allocation will be reduced for even stopped.
Between 2012-2015, the ADB loan will focus on Vietnam’s six core areas: education, energy, finance, transport, water supply, and agriculture, natural resources and the environment. The transport sector will be the largest beneficiary, receiving 34% of the USD3.8 billion in total. The energy sector will receive funding for five projects worth USD700 million, while the environment sector will receive USD340 million.
The loans are aimed to help Vietnam to achieve inclusive growth and environmental sustainability and enhance economic efficiency, in which inclusive growth will be reached by improving infrastructure and rural development, improved access to economic resources and support to education.
