ADB supports water supply, road upgrade

tohang

The State Bank of Vietnam on May 23 signed with the Asian Development Bank two agreements on loans and non-refundable aid worth a total 249 million USD to help Vietnam improve water supply services and upgrade roads.

At the signing ceremony. — VNA Photo

HANOI (Biz Hub) — The State Bank of Vietnam on May 23 signed with the Asian Development Bank two agreements on loans and non-refundable aid worth a total 249 million USD to help Vietnam improve water supply services and upgrade roads.

Among these there is a 212 million USD credit, part of the 1 billion USD credit package for the Water Sector Investment Programme approved in 2011. The programme is designed to provide running water to an estimated 500,000 poor households.

The new disbursement will fund sub-projects to build water supply stations and water pipes for 94,000 households in the provinces of Binh Duong, Dak Lak, Quang Tri, Thua Thien-Hue and the cities of Da Nang and Hai Phong.

The other agreement covers a 25 million USD loan from ADB and a grant of 12 million USD from the Australian Agency for International Development (AusAid), which will provide funds for improving the overall quality of the Greater Mekong Sub-region (GMS) Southern Coastal Corridor project.

Through the loan agreement, Vietnam and ADB are looking towards the promotion of economic growth along the corridor through enhancing connectivity with neighbouring countries, thus cutting down transport expenditures and facilitating the flow of people and goods among GMS countries. — VNA


  • Share:

see also

Five banks qualify for year-end credit expansion

Five banks qualify for year-end credit expansion

Five banks, including Vietinbank, ACB, VIB, Techcombank and MSB, have qualified for the credit room expansion in the last time of this year
Banks face difficulties in balancing capital raising and lending

Banks face difficulties in balancing capital raising and lending

Banks use charter capital to cover shortages as lending exceeds capital raising, but experts warn this gap risks higher interest rates and banking system instability.
Việt Nam International Bank becomes Việt Nams first bank to offer AWS-powered Gen AI on mobile banking

Việt Nam International Bank becomes Việt Nam’s first bank to offer AWS-powered Gen AI on mobile banking

Việt Nam International Bank (VIB), one of the leading retail banks, announced it is transforming the user experience on its MyVIB digital banking platform with the launch of the new ViePro generative artificial intelligence (Generative AI)-powered assistant.
Standard Chartered highlights Việt Nams positive but cautious outlook in 2025

Standard Chartered highlights Việt Nam’s positive but cautious outlook in 2025

Standard Chartered has released its latest macroeconomic s for Việt Nam, forecasting the US dollar will strengthen in 2025 but weaken early in the year. The bank expects strong GDP growth of 6.7 per cent in 2025.
OceanBank to be renamed MBV

OceanBank to be renamed MBV

Ocean Commercial One Member Limited Liability Bank (OceanBank) will be renamed Việt Nam One Member Limited Liability Bank (MBV) from December 18 if approval is given by the State Bank of Việt Nam, Military Commercial Joint Stock Bank (MB) has...