Vietnam treasures relations with ADB: Deputy PM

ABO/VNA – Vietnam attaches importance to relations with the Asian Development Bank (ADB) – one of the country’s leading providers of capital, technical assistance and consultation, Deputy Prime Minister and Foreign Minister Pham Binh Minh said.

Deputy Prime Minister and Foreign Minister Pham Binh Minh (right) and ADB Vice President Ahmed Saeed (Photo: VNA)

At a reception for ADB Vice President Ahmed Saeed in Hanoi on July 2, Minh highlighted the bank’s active engagement in policy consultation and institutional building for Government agencies, including the implementation of e-Consultation and e-Cabinet for the Government Office.

The ADB’s support has helped to spur Vietnam’s socio-economic development, especially in infrastructure, health and human resources development, the Deputy PM.

He said the ADB has to date funded 173 programmes and projects with total capital exceeding 16 billion USD, and granted non-refundable aid worth over 340 million USD to Vietnam.

Minh spoke highly of the bank’s funding for seven programmes valued at 676.96 million USD in the fiscal year of 2018 before Vietnam graduated from its preferential loans on January 1, 2019.

The Vietnamese Government has held a direct dialogue with representatives of six donors in Hanoi to reach consensus on measures to speed up and improve the efficiency of ODA loans in the time ahead, the Deputy PM said.

He noted that the National Assembly of Vietnam has agreed with the Government’s proposal to add seven projects in 2018 to the mid-term public investment plan for 2016-2020.

Besides, the Government has also proposed the legislature approve the Law on Public Investment, and will amend relevant decrees in an effort to create a favourable legal corridor for the disbursement of ODA loans, Minh added.

The Deputy PM used the occasion to call on the ADB to create conditions for Vietnam to access less preferential loans or combine loans with aid to ease borrowing costs and ensure safety of public debts.

In reply, Saeed highly valued the Vietnamese Government’s close supervision of projects using ODA loans from the group of six donors, including the ADB, especially after the Government established the national steering committee for OAD and preferential loans.

The committee has helped to improve the efficiency of ODA loans and enhance understanding between Vietnam and the donors, the ADB Vice President said.

He described Vietnam as an example in the use of ODA capital, and pledged that the ADB will continue to accompany the country to maintain its stability and sustainable economic development.

(Source: VNA)