Hanoi(VNA) – Vietnam always sees the Asian Development Bank (ADB) one of the leadingsponsors with important contributions to the country's socio-economic development, Prime Minister Nguyen Xuan Phuc said.

He hosted in Hanoion September 19 Vice President of the ADB StephenGroff, who is on a working visit to Vietnam. The reception was attended byleaders from some related ministries and sectors.
 
Groff extended hissympathy with the Vietnamese Government and people over huge losses caused bystorm Doksuri. He congratulated the PM and the Vietnamese Government onsuccessfully maintaining the macro-economic stability, promoting economicgrowth, and reforming State-owned enterprises.

PM Phuc told guest that Vietnam is still facing many challenges anddifficulties during its development process despite having obtained initialimportant achievements.

He stated thatloans, technical assistance, and policy consultancy provided by ADB are immenseand valuable assistance that allowed Vietnam to achieve socio-economicdevelopment attainments today.

He hailed ADB for having acknowledged and voiced support for Vietnam’s economicachievements as well as highly estimating the country’s economic prospects inthe coming time.

He noted that thecountry, though having attained growth and poverty reduction outcomes, is stillencountering challenges in sustainable poverty reduction, uneven development,and unpredicted climate change.

The leader expected that the Vice President and ADB back the lender’sleadership and shareholders to adopt a proper mechanism aiding Vietnam after itgraduates the ADF to prevent the graduation process from interrupting thecountry’s effort to maintain its sustainable economic achievements.

Informing his guestabout projects and programnmes using ADB’s loans in 2017-2018, he affirmed thatthe Vietnamese Government has hastened the Ministry of Planning and Investment,the Finance Ministry and other agencies to promptly speed up negotiations soADF preferential loans could be utilized before the country makes the ADFgraduation in 2019.

The Government alsotasked the Ministry of Planning and Investment to work with the Finance Ministryto assess impacts of ODA and preferential loans on public debt, which isnearing the National Assembly’s permissible level of 65 percent of GDP, andpropose settlement solutions to the Government before September 30, 2017, hestressed, expressing his hope that following the report, programmes andprojects using ODA and preferential loans would be negotiated as planned.

The ADB VicePresident spoke of the Vietnamese Government’s efforts to introduce solutionsto managing socio-economic affairs, especially when it has been imposed apublic debt cap by the National Assembly, while seeking capital sources todevelop infrastructure and spur growths.

Groff stated that ADB stands ready to assist Vietnam in analysing and assessingthe efficiency of capital sources, thus helping its government to choose properones in service of its development goals with the highest efficiency. ADB isalso ready to work together with the Vietnamese Government in selectingprojects to be prioritized for using ADF capital before it is expired by 2019.

Vietnam is facinghuge difficulties in responding climate change, especially in finding capitalsources for the effort, Groff said, adding that sponsors are discussing to putforth appropriate lending programmes and projects in this regard.

He highly noted thescope of the upcoming conference on shaping the climate change-adaptedsustainable development model transformation for the Mekong delta, affirmingthe lender’s willingness to provide technical assistance and share experiencein the field with Vietnam.

The ADB executivesuggested Vietnam speed up the implementation and capital disbursement ofODA-loaned projects, showing the lender’s readiness to work with the VietnameseGovernment to seek measures to tackle the issue.-VNA