Prime Minister (PM) Nguyen Xuan Phuc has asked the Asian Development Bank (ADB) to finance gender equality projects aside from infrastructure construction in Vietnam.

Receiving ADB Country Director for Vietnam Eric Sidgwick in Hanoi on December 2, he thanked ADB for approving a plan on supporting Vietnam with USD 1-1.5 billion in the next four years.

 PM Nguyen Xuan Phuc (R) meeting with ADB Country Director Eric Sidgwick

In particular, the bank decided to provide USD 450 million for Vietnam in 2016 and 2017, which will help the country ease the burden on its State budget, he noted.

PM Phuc noted as Vietnam’s economy will face a number of difficulties and challenges, especially in the next couple of years, the country wants to receive more assistance from ADB.

He also suggested the bank give financial assistance to Cambodia, Laos, Myanmar, Thailand and Vietnam within the framework of the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy, and within the cooperation framework of Cambodia, Laos, Myanmar and Vietnam (CLMV) to build infrastructure linking these countries, especially the Vientiane-Hanoi expressway linking the two capital cities of Laos and Vietnam.

Eric Sidgwick said as Vietnam has already been a middle-income country, it can no longer get loans with low interest rates. However, ADB is always ready to listen to Vietnam’s needs so as to assist its socio-economic development.

Source: VNA