Vietnam borrows $80m from ADB for northern mountainous traffic development

The project includes two phases with $109.6 million for the first stage, of which, Vietnam will borrow $80 million from Asian Development Bank (ADB).

The prime minister recently approved the list of traffic projects in the northern mountainous provinces to access ADB loans whereby provinces join the project including Cao Bang, Bac Kan, Ha Giang, Tuyen Quang, Yen Bai and Lao Cai.

The project consists of two phases with $109.6 million for the first stage, of which, loans from ADB will be $80 million.

The first phase including investment and upgrading for 12 roads with total length of 300 kilometers is expected to carry out from 2012 to 2017.

The total investment for the second phase is more than $60 million. The Ministry of Planning and Investment (MoPI) in collaboration with relevant bodies will seek capital sources for the second phase of the project.

Posted by VBN on May 18 2011. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry