ADB To Lend Vietnam $72 Million Loan For Infrastructure Development

HANOI -(Dow Jones)- The Asian Development Bank said Friday it has signed an agreement with the government of Vietnam for a $72 million loan to develop infrastructure in the country’s northern province of Thanh Hoa.

The loan will be used to fund a $118-million project to develop and upgrade urban infrastructure and services in the province, 150 kilometers south of Hanoi, the bank said.

The 32-year loan bears an annual interest of 1% for the first eight years and 1.5% for the rest of the term.

The bank has also agreed to provide a grant of $2 million to the province to improve its water-supply system.

ADB said South Korea’s Eximbank is also providing a $32.7-million loan to Vietnam build an 11-kilometer road in the province.

-By Vu Trong Khanh, Dow Jones Newswires; 844 35123042;


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: