European Union supports Vietnam's development goals
The European Union (EU) remains fully committed to supporting Vietnam's development goals, particularly in assisting the country integrate with the global economy, enhancing human development and reducing poverty, EU officials said here yesterday. Launching the annual "Blue Book," a directory of all developmental activities supported by the EU in Vietnam, British Ambassador to Vietnam, Robert Gordon, on behalf of UK's presidency of the EU Council, said the EU was Vietnam's most important development partner in terms of granting funds as well as the biggest trading partner. "We admire Vietnam's development achievements. The country is a good model of a successful partnership between the donor community and the Government," said Gordon, referring to EU's total disbursements, through various projects, at EUR326.8mil (over VND7tril) in 2004. This showed an increase of 0.6% over the previous year, which itself saw a growth of 4.5%. Of the total disbursements in 2004, grants accounted for around 76.4% and credits and loans 23.6%. In addition to providing bilateral Official Development Assistance (ODA) to Vietnam, EU member states have channelled a considerable amount of ODA funds through multilateral financial institutions and other agencies.
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