Government approves ADB loans, tourism stimulus

Deputy Prime Minister Nguyen Sinh Hung on July 6 approved a proposal by the State Bank of Vietnam to receive loans from the Asian Development Bank (ADB) in accordance with the CSF mechanism.

The CSF - Countercyclical Support Facility - offers short-term loans to member countries which need fiscal spending to counter crises.

The Deputy PM assigned the Ministry of Planning and Investment to coordinate with the Finance Ministry and relevant agencies to put forth a proposal for effective use of the loans, focussing on transport and irrigation for submission to the Prime Minister.

The same day, the Deputy PM also allowed businesses involved in international travel to organize overseas tours for Vietnamese tourists and foreigners living in Vietnam.

The Ministry of Culture, Sports and Tourism was assigned to coordinate with the Public Security Ministry and the Foreign Ministry to provide detailed guidance.   

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