ADB to Lend US$60.5 Mln to Vietnam to Develop Tourism, Combat Poverty
The Asian Development Bank (ADB) will provide three credits worth US$60.5 million to help Vietnam boost tourism development, combat poverty and restore natural disasters-stricken infrastructure networks.
Country Director of the ADB in Vietnam, Ayumi Konishi and Governor of the State Bank of Vietnam, the country's central bank, Nguyen van Giau signed the credit agreements on December 29.
Of the funds, US$25 million will be used to Vietnam's poverty reduction programs, US$25.5 million will be added to restoration of natural disasters-hit infrastructure systems and US$10 million will be spent to support tourism sector in sub-Mekong region.
Despite difficulties in 2008, the government of Vietnam will be able to curb inflation and trade deficit, and 2009 will be a tough year and the ADB will continue to support Vietnam strongly, Ayumi Konishi said. (The People, Laborer)
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