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PM calls for more assistance from ADB
Vietnam expects to receive more assistance from the Asian Development Bank (ADB), particularly to infrastructure and environmental projects to help the country respond to climate change and rising sea levels.
Receiving ADB President Haruhiko Kuroda in Hanoi on Sept. 28, Prime Minister Nguyen Tan Dung said Vietnam considers the bank’s support a model of bilateral cooperation, which has brought practical results to both Vietnam and the development of the ADB.
The PM spoke highly of the ADB’s timely solutions to help Asian nations curb economic slowdown and cushion the adverse impact of the global financial crisis.
He also praised the ADB’s forecasts for Vietnam’s GDP growth and thanked the bank for its policy consultancy, especially its credits in the 2009 fiscal year to back the country’s efforts to stabilise its macro-economy, accelerate hunger elimination and poverty reduction, and provide loans to domestic commercial banks.
The government leader told his guest that Vietnam is expected to record an economic growth rate of 6.5 percent in the fourth quarter, 5-5.2 percent for the whole year and 6.5 percent in 2010.
To reach the targets, Vietnam is adopting flexible monetary policies to both ensure its growth and curb inflation, stabilise the macro-economy and maintain sustainable development, PM Dung elaborated.
Kuroda said Vietnam’s economy has already weathered the storm to bounce back. The ADB predicts that Vietnam would post growth rates of around 5 percent in 2009 and 6.5 percent next year, he added.
The ADB President said Vietnam’s interest rate subsidy policies have reaped positive results and expressed the belief that the country will work out reasonable and timely policies to cope with changes in the economy.
He affirmed the ADB would continue to provide credits and policy consultancy to Vietnam, and cooperate closely with concerned Vietnamese ministries and agencies to effectively carry out projects using the bank’s funding.
Kuroda also thanked the Vietnamese government for its collaboration with the ADB in co-organising a conference titled “The impact of the global economic slowdown on poverty and sustainable development in Asia and the Pacific.”
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