Asian Development Bank (ADB) President Masato Kanda met General Secretary and President of the Socialist Republic of Viet Nam To Lam, congratulating him on his historic re-election and pledging strong support for Viet Nam’s new phase of high-quality, innovation-driven growth, according to a press release. The meeting, held on 1 June 2026, focused on the country’s “Era of National Rise” agenda. Kanda outlined ADB’s plans to accelerate infrastructure investments, energy resilience, and regional integration. The discussions underscored a long-standing partnership between ADB and Viet Nam. A multi-billion-dollar financing pipeline was at the center of the talks.
ADB and Viet Nam have built one of the region’s most enduring development partnerships. The country has consistently leveraged ADB resources to advance its growth ambitions. The “Era of National Rise” represents a strategic phase aimed at innovation-driven progress. Viet Nam continues to position itself as a key regional manufacturing hub. The current engagement builds on years of collaboration across multiple sectors.
To help meet Viet Nam’s 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 features a proposed $500 million policy-based loan to advance reforms strengthening trade and competitiveness. It also aims to secure Viet Nam’s position as a preferred destination for foreign direct investment. The broader pipeline encompasses agriculture and rural development, water and urban development, transport, energy, and education. These commitments reflect Viet Nam’s diverse development priorities.
“ADB and Viet Nam have built one of the region’s most enduring development partnerships,” Kanda said, commending the country’s transformational leadership.
ADB is supporting regional power connections under the ASEAN Power Grid initiative, including Viet Nam’s plans to import 8 gigawatts of power from the Lao People’s Democratic Republic in the near term. Early-stage discussions are underway on a possible Viet Nam–Malaysia–Singapore electricity connection. In 2025, ADB’s Trade and Supply Chain Finance Program supported about $1.5 billion in transactions through 17 partner banks in Viet Nam. Year-to-date in 2026, the program has already supported approximately $620 million in transactions, about a 90% year-on-year increase.
ADB is also expanding its private sector engagement in Viet Nam, committing $146 million to three private sector projects in 2025 and mobilizing 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. As ASEAN’s main bank, ADB has committed to mobilize $30 billion for the region by 2030. Founded in 1966, ADB is owned by 69 members—50 from the region. The bank continues to back Viet Nam’s deep regional economic integration.
