ADB Approves $1B-$1.5B in Aid for Vietnam in Next 4 Years: Stephen Groff

The Asian Development Bank (ADB) has just approved a plan to finance $1 billion to $1.5 billion in development aid for Vietnam in the next four years, ADB’s Vice President Stephen Groff told Vietnamese Prime Minister Nguyen Xuan Phuc during a meeting in Hanoi on Nov 2. Of which, ADB would finance $450 million for Vietnam in 2016-2017 to ease the country’s budget crunch depending on detail requests from the Vietnamese government, the government said on its website. During the meeting, Mr. Stephen Groff appreciated the Vietnamese government’s measures to implement its economic overhaul scheme in 2016-2020, the government added. (http://baochinhphu.vn/ Nov 2)