ADB approves 2 loans totaling $300 million for Vietnam

HANOI, December 19 (Engineering Daily) -- The Asian Development Bank has approved two loans totaling nearly $ 300 million to assist Vietnam in improving infrastructure, connecting economy, strengthening the capacity of provincial governments, especially on public asset management.

Specifically, ADB has approved a $ 150 million loan to help improve economic connectivity and living standards in the four Northeastern provinces of Vietnam by enhancing infrastructure and basic services. Basic infrastructure for equal growth in the Northeast will help Bac Kan, Cao Bang, Ha Giang and Lang Son provinces improve road connectivity between provinces by upgrading 121 km of provincial and 144 km of district road. In addition, the Rural Water Supply Project for about 42,300 people and the Improvement of Agricultural Infrastructure in Lang Son through farm-to-market connectivity and support for local businesses are included.

Additionally, a loan of $ 149 million will finance the basic infrastructure development in the North-central provinces, which aims to upgrade 214 km of roads, improve rural water supply as well as flood protection, irrigation and port services in the four provinces of Ha Tinh, Nghe An, Quang Binh and Quang Tri. This will promote the equitable and sustainable economic growth and bring the benefit to more than one million residents.

It is estimated that 2 projects will completed within the Quarter I of 2023.