HANOI, DECEMBER 22 (Engineering Daily) -- The Prime Minister has agreed a proposal for a project “Fundamental infrastructure for comprehensive development of provinces of Nghe An, Ha Tinh, Quang Binh and Quang Tri” using ADB loans.

The Prime Minister has assigned the People’s Committee of Nghe An, Ha Tinh, Quang Binh and Quang Tri to ensure the counterpart funds themselves as per regulations of State Budget Laws and Decision No. 40/2015/QD-TTg dated 14 September 2015 by the Prime Minister on the principles, criteria and allocation norms of state budget investment and development capital in the period of 2016-2020; to prepare a report on investment proposal in conformity to the current regulations.

The People’s Committee of provinces of Nghe An, Ha Tinh, Quang Binh and Quang Tri shall review, select and prioritize the investment components that are really necessary and in accordance with socio-economy development status of the locality, ensuring the project efficiency; clarify the ability to receive and capacity to implement the programs and projects and concessional loans of donors deployed in the province.

The Prime Minister has also assigned the Ministry of Finance to identify the domestic financial mechanism of projects, ensuring the localities shall meet the conditional requirements in terms of loan payment capacity and loan limits under State Budget Laws when they are approved to join the projects.

The Ministry of Planning and Investment was requested to lead and coordinate with relevant agencies to evaluate the investment proposal report and submit to the Prime Minister for review and approval by January 2017.