Sunday, March 02, 2008

ADB to loan Vietnam 880 mln USD for transport development in 2008

HANOI, Feb. 29 (Xinhua) -- The Asian Development Bank (ADB) has agreed to provide soft loans totaling 880 million U.S. dollars to Vietnam, helping the country implement three projects on building expressways and roads this year, local newspaper Saigon Liberation reported Friday.

Of the future loans, 500 million dollars will be used to finance the development of an expressway linking southern Ho Chi Minh city and southern Dong Nai province, 350 million dollars the construction of two bridges in the Mekong Delta, and 30 million dollars the technical preparation for the development of three expressways in both northern and southern localities.

Besides the loans, the ADB will provide technical assistance to three projects on raising capacity of the Vietnamese transport sector, and upgrading a rail route and a national road in 2008.