ADB finances infrastructure upgrade in Central region

16:16 | 27/12/2014

VGP – The Asian Development Bank (ADB) and the State Bank of Viet Nam on December 26 signed a loan agreement to provide an additional capital of US$85 million for rural infrastructure upgrade in six Central provinces of Binh Dinh, Binh Thuan, Ha Tinh, Ninh Thuan, Phu Yen and Thua Thien Hue.

The project was approved in October 2007 with a total expenditure of US$168.17 million, of which US$90 million was financed by the ADB.

The project targets key infrastructural facilities in 13 provinces in the Central region, including the construction of rural roads, flood control system, rural markets, water supply programs and coastal projects.

As of August 2014, the project has contributed to increasing agricultural capacity, creating more jobs, improving capacity  to get access to public services as well as reducing consequences of the natural calamity for local people.

The loan for the project is regarded as the ADB’s prompt response to the Vietnamese Government’s priorities on rural development.

The additional capital aims to deal with obstacles on infrastructure and improve lives for the community within the scope of the project, said ADB Country Director for Viet Nam Tomoyuki Kimura, adding that the project orients to support the Government and the provinces’ rural development priorities to develop the Central region.

By Thuy Dung