ADB gives credit of USD 500 mln to Vietnam.

15/9 Tass 117

HANOI, September 15 (Itar-Tass) -- The leadership of the Asian
Development Bank has approved on Tuesday a decision to allocate a credit
of 500 million US dollars to Vietnam. As a statement of the bank, which
was made public in Hanoi, notes, these funds will be used to encourage
economic growth and ensure social stability in this South-East Asian
country in conditions of the global economic crisis.

The ADB funds will be transferred directly to the state budget of
Vietnam. It is planned that they will be used in the current and next
years to finance the program of development of market economy and reduce
the poverty level.
The reduction of Vietnam's foreign currency reserves was one of the
reasons why the credit was given.
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