Vietnam's Donors Pledge $2.4 Billions
HANOI - International donors have pledged $2.4 billion in development aid to Vietnam, praising the government's
efforts in pursuing economic reforms.
Last year, the aid pledges totaled $2.1 billion and donors promised an additional $700 million if the
country accelerated the pace of reforms. This year, however, international donors pledged an
unconditional lump sum, saying they are confident that Hanoi is committed to carrying out the reforms
the additional money would finance, World Bank representative Andrew Steer said Friday.
``Certainly there's much greater confidence on the part of the international community that Vietnam is
moving forward with the reform agenda,'' Steer said at the end of the two-day meeting of donors.
But Vietnam's impressive achievements ``must not blind us to the very large task that remains,'' he said.
This year saw Vietnam sign a landmark bilateral trade agreement with the United States, open a new
stock market and pass a law encouraging private business.
Vietnam understands the need to ``create a liberal business and production climate — transparent and
predictable,'' Minister of Planning and Investment Tran Xuan Gia said during his opening address.
A breakdown of donor countries was not released. In the past, major donors have included Japan and
many European countries, especially Scandinavian nations. The United States has never offered
development assistance through this route, saying it provides aid in other ways.
Vietnam is finally emerging from an economic slump related to the 1997-98 Asian financial crisis and
several natural disasters. It has recorded growth of nearly 7 percent this year compared to 4.8 percent
in 1999, its lowest level in the 1990s.
Associated Press - December 16, 2000.
|