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Philippines,Vietnam : Govt reaffirms importance of ties with ADB

Nov 17, 2018 (Euclid Infotech Ltd via COMTEX) --

The Government of Viet Nam attaches importance to cooperation with the Asian Development Bank (ADB) during his reception for ADB Vice President Stephan Groff on Thursday.

The ADB is one of Viet Nams top development partners in terms of preferential credit source, technical assistance and consultation. The international institution has engaged in 165 projects worth more than US$16 billion.

ADBs loans have been mainly used in the Governments priority areas such as infrastructure development, climate change adaptation and renewable energy development, according to Deputy PM, FM Minh.

He said Viet Nam has focused on improving legal framework to tighten management of ODA and preferential loans.

Deputy PM, FM Minh also spoke highly of ADBs 2030 strategy that includes priorities similar to those of Viet Nam.

ADB Vice President Stephen Groff highly valued the Vietnamese Governments efforts to sustain high economic growth and reform over the past time.

He affirmed the ADB treasures effective and long-term cooperation with Viet Nam, pledging to help the Southeast Asian country to access to financial resources for sustainable development.

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