ADB pledges to support Viet Nam’s long-term development

Asakawa made the above statement at a ceremony held in Ha Noi on March 13 to mark the 30th anniversary of the partnership between Viet Nam and ADB.

He reaffirmed ADB’s commitment to provide US$3 billion in assistance to Viet Nam during 2024–2026 and emphasized the need to enhance project preparation efficiency to accelerate delivery.

ADB also committed to mobilizing US$2.1 billion under the government’s Resource Mobilization Plan to support the Viet Nam Just Energy Transition Partnership.

Viet Nam is among the six Association of Southeast Asian Nations (ASEAN) members that have committed to net-zero emissions by 2050.

ADB is stepping up its engagement with governments and development partners in Asia and the Pacific to expand climate finance with an ambition to mobilize US$100 billion between 2019 and 2030 from its own resources to support climate mitigation and adaptation.

Over the past 30 years, the bank has provided around US$18 billion of credit for Viet Nam in such areas as regional connectivity, environmental protection, green investment, digital transformation, climate change adaptation, education, social services and support for ethnic minority groups.

During the tour to Viet Nam, Mr. Asakawa visited Selex Smart Electric Vehicles Joint Stock Company, the first company in Viet Nam to receive an equity investment from ADB Ventures, which supports and invests in impactful startups, demonstrating ADB’s support for innovative private sector business models that can play a powerful role in addressing Viet Nam’s climate-related development challenges.

Mr. Asakawa will also visit Ha Noi College of Electro Mechanics main campus under the Skills and Knowledge for Inclusive Economic Growth Project, which aims to upgrade the teaching and learning environments of national high-quality technical and vocational education and training institutes with up-to-date technology./.