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ADB’s updated program for Vanuatu for 2006–2009 focuses on promoting sustainable economic growth led by the private sector. The 4-year country program consists of technical assistance grants amounting to $2.5 million to improve regulatory institutions and increase access to finance. Technical assistance was approved to help modernize commercial and financial laws. ADB, in partnership with the National Bank of Vanuatu, has pioneered a project to create sustainable, profitable rural microlending. This rural microfinance project will be expanded in 2007. ADB is also working toward a plan to help reform the company registration process in 2008. This work complements ongoing activities to develop a secured transactions framework that will increase access to finance. No loans were approved.
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Technical assistance was approved to help modernize commercial and financial laws in Vanuatu
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