Viet Nam seeks ADB's funding for large-scale projects

The Government chief made the suggestion during a reception for ADB President Masatsugu Asakawa in Kunming city on November 6 as part of his ongoing trip to the neighboring country to attend regional summits.

Pham thanked ADB for the 30-year partnership with Viet Nam. As one of Viet Nam's biggest donors, the international lender has provided about US$2 billion for different projects in the Southeast Asian nation.

The Vietnamese Government always regards ADB as one of its major development partners, making practical contributions to development in Viet Nam, Pham said.

He urged ADB to provide more preferential loans for newly emerging fronts like AI, cloud computing, Internet of Things; for strategic infrastructure development (airports, seaports, expressways); for projects to prevent erosion and landslides in the Mekong Delta and central regions; and for renewable energy and power transmission projects. 

Pham also called for ADB's greater support to advance the development of private sector and enterprises to deeply engage in the global supply chains, promising that the Government will adopt policies to encourage the private sector to acquire loans from foreign partners including ADB.

For his part, Asakawa announced that ADB has arranged US$2 million non-refundable aid to help Viet Nam overcome the consequences of national disasters.

Asakawa highly valued the role of Viet Nam in the Mekong subregion.

As "the climate bank of Asia and the Pacific", ADB will continue to support and provide funding for Viet Nam to implement development goals, especially energy transition, green transition, digital transformation, infrastructure development, and achieve the goal of net zero emissions by 2050./.