ADB to Lend $245M to Three Development Projects in Vietnam

The State Bank of Vietnam (SBV) and the Asian Development Bank (ADB) signed three loan agreements totaling $245 million on Dec 21 to help Vietnam improve education, energy supply and natural disaster risk management.Of the sum, $110.19 million will go to the power transmission investment program that ADB approved in 2011. It supports the implementation of the National Power Sector Development Master Plan VII (PDMP VII) to meet growing electricity demand in Vietnam.Around $90 million will be used for the second phase of the Upper Secondary Education Development Project. The project aims to increase the competitiveness of laborers aged 18-24 by improving upper secondary education to meet international standards.The remaining $45 million will be used to improve flood and drought risk management within the Lower Mekong Basin.By Nov 30 2012, the Philippines-based lender had provided Vietnam a total $7.4 billion in 11 grants and 50 preferential loans, with disbursement of $2.11 billion. However, $6 billion is estimated to be not disbursed at the end of 2012.From 1993, when it resumed operations in Vietnam up to March 31, 2012, ADB has provided 114 sovereign loans amounting to $10.44 billion, 261 technical assistance projects worth $241 million and 26 grant projects worth $150.1 million, totaling $10.83 billion.ADB has announced its plan to provide nearly $3.9 billion in official development assistance (ODA) for Vietnam in the next three years to support projects that will eliminate hurdles to economic growth in the country. (Thoi Bao Ngan Hang – Banking Times Dec 24 p2, Vietnam News Dec 22, vietnamplus.vn Dec 21).

Latest Foreign Assistance Briefs
- American foundation for the blind, Helen Keller Tuesday delivered 174 eyeglasses to needy pupils in Ha Dong district of Hanoi. It is planning to donate a total of 700 eyeglasses to the locality. It is part of ChildSight, a school based vision care program of Helen Keller International Vietnam (HKI-VN). With the technical support from HKI-VN, the program is implemented by Ha Dong Eye Hospital in collaboration with Hanoi Department of Health and Hanoi Department of Education and Training. To date, over 4,700 out of 6,000 secondary students in the pilot program in Ha Dong have received eye care services. Around 700 eyeglasses will be provided to students from now till January next year. The cost of the eyeglasses is estimated at VND350 million ($16,800) excluding eye care services and other professional activities. Joining with Helen Keller, local authorities are set to promote education and communication activities to increase teachers, students and parents’ awareness on eye health, especially refractive errors. (Tuoi Tre –Youth Dec 25)
- Japan agreed to offer non-refundable aid of $103,000 for a project to upgrade infrastructure and improve health services for the elderly at the Thien Duc Aged Care Centre in Hanoi. The funding will be used to buy new health equipment for the Thien Duc centre including ultrasound machines and respirators, aiming to increase the quality of its healthcare services. The centre, a private institution with three doctors and 45 nurses looking after 150 elderly people, has so far conducted regular exchanges with other care centers for the elderly in Japan and learned Japan-style nursing and healthcare methods. Speaking at the ceremony, Japanese Ambassador to Vietnam, Yasuaki Tanizaki, expressed his hope that the project would deepen the mutual understanding and friendship between the two countries. (Nhan Dan – The People Dec 22)