Manila, June 1 (AseanAll) — Asian Development Bank (ADB) President Masato Kanda met General Secretary and President of the Socialist Republic of Viet Nam To Lam on June 1, 2026, congratulating him on his historic re-election and expressing strong support for Viet Nam’s new phase of high-quality, innovation-driven growth under the “Era of National Rise” agenda.
“ADB and Viet Nam have built one of the region’s most enduring development partnerships,” Mr. Kanda said. “We strongly commend the country’s transformational leadership and are moving quickly to support Viet Nam in accelerating infrastructure investments, strengthening energy resilience, deepening regional links, and building a more competitive and resilient economy.”
To help meet Viet Nam’s ambitious growth targets, ADB is developing a 2026–2029 pipeline of projects totaling $5 billion to $6 billion, including about $4.5 billion in proposed ADB financing. The pipeline includes a proposed $500 million policy-based loan to implement reforms to strengthen trade and competitiveness and to secure Viet Nam’s position as a preferred destination for foreign direct investment. The broader pipeline encompasses projects in agriculture and rural development, water and urban development, transport, energy, and education.
Amid heightened global uncertainties, ADB is supporting regional power connections under the ASEAN Power Grid initiative to bolster energy security. This includes supporting Viet Nam and the Lao People’s Democratic Republic in advancing collaboration on cross-border electricity connections to meet Viet Nam’s plans to import 8 gigawatts of power from the Lao People’s Democratic Republic in the near term, easing transmission bottlenecks, and strengthening regional energy security. ADB is also in early-stage discussions on possible support for a Viet Nam–Malaysia–Singapore electricity connection under the ASEAN Power Grid.
As ASEAN’s main bank, which includes a commitment to mobilize $30 billion for the region by 2030, ADB is strongly backing Viet Nam’s deep regional economic integration. Viet Nam has consistently recorded the highest use of ADB’s Trade and Supply Chain Finance Program in the region, reflecting its prominence as a regional manufacturing hub. In 2025, the ADB program supported about $1.5 billion in transactions through 17 partner banks in the country. Year-to-date in 2026, the program has already supported approximately $620 million in transactions, representing about a 90% year-on-year increase.
ADB is also expanding its work with the private sector in Viet Nam. In 2025, it committed $146 million to three private sector projects and mobilized another $250 million from commercial lenders and development partners. Its private sector portfolio in Viet Nam stood at about $1 billion at the end of 2025.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
