Tuesday, November 23, 2004
Vietnam set to get $2.8 bn in aid in 2005
Reuters Hanoi, November 23
International donors are likely to pledge about $2.8 billion in development aid to Vietnam in 2005, similar to this year's amount, the World Bank said on Tuesday.
"There is no reason to expect any drastic decline in aid," director of the World Bank in Vietnam, Klaus Rohland told a news conference ahead of a donor meeting in Hanoi next week.
Last December, international donors, including the Asian Development Bank, Japan and the European Union, agreed to provide nearly $2.84 billion to Vietnam in 2004.
The country's battle against corruption would be on top of the agenda this year, Rohland said.
"You should address it now," he said. "The earlier you do it the better."
Between 1993 and 2002, donors pledged $22.5 billion to Vietnam, largely for the transport and energy sectors.
Despite its fast-growing economy, averaging seven per cent a year, the communist country still relies on foreign aid to build schools, clinics, road and power grids.
© HT Media Ltd. 2004.