Vietnam Seeks US$6.43 Billion Foreign Loans in 2009

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Apr. 14 – The Vietnamese government has announced that it plans to borrow up to US$6.43 billion from foreign governments and banks this year.

The loans will pay for new infrastructure in the form of roads, bridges and water supply systems. The government will borrow US$1.1 billion for medium and long-term commercial loans with an additional US$1.73 billion in foreign governments’ official development assistance and soft loans.

The Vietnamese government also wants to allocate around US$930 million this year to pay external debt. Vietnam’s private sectors are also forecasted to loan about US$3 billion from foreign banks for commercial loans.