Asian Development Bank and Viet Nam: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Viet Nam as well as concise information on ADB's operations in the country and contact information. Viet Nam is a founding member of the Asian Development Bank (ADB), which was established in 1966. After the country’s unification and the period of suspension, ADB operations in the country were resumed in 1993. ADB has provided Viet Nam with 114 sovereign loans totaling $9.09 billion, one sovereign guarantee of $325 million, 255 technical assistance grant projects amounting to $199.5 million, and 26 other grants totaling $150.1 million. ADB has also approved eight nonsovereign loans, two political risk guarantees, and one B-loan totaling $280 million. Over the last 20 years, Viet Nam has been one of the fastest-growing economies in Asia, with gross domestic product (GDP) growth averaging 7.1% between 1990 and 2009. It recently became a middle-income country. A long period of rapid economic growth, combined with various policies targeting the poor, has enabled Viet Nam to reduce poverty dramatically.