President asks for more ADB soft loans

Hanoi (VNA) – President Tran Dai Quang has proposed that the Asian Development Bank (ADB) continue to provide soft loans to Vietnam to realise its socio-development goals.

During a meeting with the bank’s President Takehiko Nakao in Hanoi on June 17, the Vietnamese leader asserted that Vietnam will effectively manage and distribute the capital.

Noting that over the past years, Vietnamese leaders have always paid a lot of attention to the distribution of ADB’s loans, he pledged that the country will work hard to maximise the efficiency of the capital.

Vietnam is currently facing a number of challenges generated by climate change, he said, adding that many regions in the country are suffering drought, salinity intrusion and environmental pollution, which pose negative impacts to the whole country’s growth and need to be urgently tackled.

The country also has a high demand for capital for its sustainable and rapid socio-development targets, with priority on economic restructuring, infrastructure improvement and human resources training, said President Tran Dai Quang.

He also thanked the bank for its assistance and cooperation over the past years, stating that Vietnam treasures its relations with ADB and considers the bank the leading sponsor of both capital and technical and policy consultation.

ADB President Takehiko Nakao affirmed that the bank is keen on affiliating with Vietnam , which has recorded numerous development achievements.

ADB will actively support Vietnam in financial restructuring, small and medium-sized enterprise development and FDI attraction, he vowed.

He also briefed his host on the outcomes of his working session with Vietnam’s ministries and sectors, which focused on areas in need of ADB’s capital, including infrastructure improvement, power transmission, alternative energy, water supply, agriculture, climate change response, and education and training.

As Vietnam has designed its new socio-economic development plan for the 2016-2021 period, the lender hopes to talk with the country’s management bodies on measures where it can cooperate and support Vietnam in the next five years, in the most effective manner.-VNA