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ADB President Arrives in Viet Nam

Ha noi, Viet Nam (19 February 2008) – Asian Development Bank (ADB) President Haruhiko Kuroda arrives in Ha Noi today to meet with senior leaders and government officials about ADB’s role in Viet Nam, the impact of ADB assistance, and Viet Nam’s participation in the Greater Mekong Subregion (GMS) cooperation program in the light of upcoming Third GMS Summit in Vientiane, Lao PDR.

President Kuroda will also meet with private sector representatives and development assistance partners, and visit an HIV/AIDS Youth Center supported by ADB.

Since the resumption of operations in 1993 through the end of 2007, ADB has provided Viet Nam with 72 public sector loans totaling US$ $5.25 billion, 208 technical assistance grants valued at US$ 149 million, and 19 additional grants totaling US$ 101 million. In addition to this assistance, ADB has provided 9 private sector loans in Viet Nam totaling US$ 193 million.

ADB-supported projects in Viet Nam help expand educational opportunities for ethnic minorities and girls, improve the country’s health care system, expand job opportunities for the urban poor, improve irrigation and water supply systems, link impoverished rural areas with vibrant economic hubs, foster capital market development, and help Viet Nam meet its growing energy needs.

In 2007 ADB approved 8 loans to Viet Nam totaling US$ 1.4 billion, as well as US$ 25 million in various technical assistance grants, and additional support under ADB-supported regional technical assistance projects and private sector operations.

At the most recent Consultative Group Meeting in Ha Noi, ADB indicated that its 2008 work program in Viet Nam includes loans and technical assistance valued at US$ 1.3 to US$ 1.6 billion.

ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 67 members – 48 from the region. In 2007, it approved $10.1 billion of loans, $673 million of grant projects, and technical assistance amounting to $243 million.

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