ADB grants for Mekong and Highlands infrastructure

Thursday, Oct 17, 2013 15:55

Construction of the 3km Vam Cong Bridge connecting Can Tho and Dong Thap provinces will boost the local development.— Photo
HA NOI (BizHub) —The State Bank of Vietnam (SBV) and the Asian Development Bank (ADB) on Wednesday signed loan contracts for two infrastructure projects in the Mekong Delta and Central Highland regions.

The SBV confirmed the fund for the Mekong delta project will include $410 million from ADB's ordinary capital resources, $152.7 million from the Australian Government through ADB, $260 million from the Korean Export-Import Bank (Keximbank) in South Korea and $56 million  from domestic sources.

The project will be responsible for completing Cao Lanh Bridge over Tien River, Vam Cong Bridge over the Hau River and major roads connecting HCM City and the Mekong Delta and the southern coastal provinces.

The second project, worth $87.58 million, including an $80 million loan from the ADB's Asian Development Fund, will develop rural infrastructure for five Central Highlands' provinces including Lam Dong , Dak Lak , Dak Nong, Gia Lai and Kon Tum, from 2014-2018.

The project aims to reduce poverty and enable economic development through the provision of critical infrastructure.—VNS

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