Masato Kanda, the ADB’s president, and To Lam, Vietnam's President

The Asian Development Bank ( ADB ) is developing a massive 2026–2029 project pipeline for Vietnam totalling US$5 billion to US$6 billion, including roughly US$4.5 billion in direct ADB financing, to back the country’s strategic shift towards high-quality and innovation-driven growth.

The announcement followed a high-profile meeting on May 31 between Masato Kanda, the ADB’s president, and To Lam, Vietnam's President and the general secretary of the ruling Communist Party.

During the meeting in the Philippines, Kanda pledged the bank’s deep commitment to accelerating Vietnam’s infrastructure investments, energy resilience and regional competitiveness under its new Era of National Rise agenda.

A cornerstone of this newly proposed initiative is a US$500 million policy-based loan designed to implement critical economic reforms. This funding aims to strengthen Vietnam’s trade networks and competitiveness, ensuring the nation solidifies its standing as a premier destination for foreign direct investment.

Beyond economic policy, the broader multi-billion-dollar pipeline will target key sectors, such as transport, education, agriculture, energy and urban water development.

Amid growing global economic uncertainties, a significant portion of the partnership focuses on bolstering regional energy security through the Asean Power Grid initiative. The ADB is actively assisting Vietnam and neighbouring Laos in advancing cross-border electricity connections.

This collaboration is designed to help Vietnam meet its near-term goal of importing 8 gigawatts of power from Laos, alleviating local transmission bottlenecks.

Furthermore, the bank disclosed that it is in the early stages of discussing potential support for a vital subsea electricity connection linking Vietnam, Malaysia and Singapore.

Vietnam’s role as a major manufacturing hub, according to the ADB, is also driving record-breaking activity within the bank’s Trade and Supply Chain Finance Programme. After supporting approximately US$1.5 billion in transactions through 17 local partner banks in 2025, the programme has experienced a surge in demand this year. Year to date 2026, it has already backed roughly US$620 million in transactions, marking a staggering 90% year-on-year increase.

Concurrently, the ADB is ramping up its engagement with the Vietnamese private sector. The bank – building on a private sector portfolio that reached US$1 billion at the end of 2025, which included committing US$146 million to three distinct private projects and mobilizing US$250 million from commercial and development lenders – plans to expand its private financing footprint across the Southeast Asian country to ensure sustainable and resilient long-term growth.