The Asian Development Bank and the Vietnamese government have signed an agreement for a US$15 million loan to support a multi donor program to reduce poverty in the country.The deal was signed by Governor Le Duc Thuy of the State Bank of Vietnam and Ayumi Konishi, ADB's Country Director for Vietnam.
The new loan addresses important structural issues and social challenges through the multi-donor-supported Poverty Reduction Support Credit framework.
ADB's loan comes from its confessional Asian Development Fund and carries a 24-year term, including a grace period of 8 years. Interest is set at 1% per annum during the grace period, and 1.5% per annum thereafter.
ADB
