Vietnam Development Bank to cut loans by 10.5%

VDB cut its target of disbursing loans to investment projects by US$143.9 million, or 10.5 per cent, to US$1.19 billion in 2011.

The Vietnam Plus newswire reported that of the sum of US$1.19 billio, Vietnam Development Bank plans to set aside US$71.9 million to finance projects that are likely to complete earlier than expected and will be disbursed in the fourth quarter this year; and another US$1.1 billion to fund 259 projects.

The bank will give priority to priority projects stipulated by Government; social welfare, forest, electricity projects; and those that are expected to finish in 2011.

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