VN to host ADB Annual Meeting in 2011

VGP – The Government chief lately approved of Việt Nam’s plan to host the 44th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) in 2011.

March 26, 2010 3:39 PM GMT+7

ADB looks to assist poverty reduction in recipient countries – Illustration photo

The PM entrusted the Governor of the State Bank of Việt Nam (SBV) to send an official letter to the ADB to express the country’s willingness and endeavor.

The SBV, in collaboration with the Ministry of Planning and Investment, the Ministry of Finance and other relevant agencies, will work with ADB in fixing expenditure and agenda for the event.

Established in 1966 with the headquarters in Manila ,ADB targets to facilitate poverty reduction in the Asia-Pacific region by stimulating economic growth, developing sustainable environment and strengthening regional integration.

Over the last time, the Bank has operated actively in Việt Nam. Amid the global economic crisis in 2009, ADB lent Việt Nam US $500 million for 5 years to finance the government’s fiscal stimulus. Recently, ADB and the Vietnamese government on February 3 signed a loan agreement worth of US $45 million for rural water supply in central Việt Nam.

By Kim Anh