Foreign donors guaranteed Vietnam official development assistance of more than US$8 billion at a meeting Friday, a sharp increase from the figure pledged a year ago.
The annual pledge was announced at the Consultative Group meeting on Vietnam, which included Vietnam’s top donors such as the World Bank, the Asian Development Bank, Japan and EU, concluded a two day meeting in Hanoi.
The Official Development Assistance (ODA) funds will help Vietnam stabilize its macro-economy, regain growth and further reduce poverty, the Consultative Group said in a statement.
Vietnam is recognized by international organizations as one of the most vulnerable countries to the effects of climate change, including rising sea levels.