ADB loan for Vietnam<\/p>\n
HANOI (Reuter): The Asian Development Bank (ADB) has agreed to
\nlend Vietnam US$80 million and give it a $1.4 million technical
\nassistance grant for a power upgrading and distribution project.<\/p>\n
The loan, covering 70 percent of the project's total cost,
\nwould come from the concessional Asian Development Fund, with a
\nterm of 40 years, including a 10-year grace period and an annual
\nservice charge of one percent, the Manila-based ADB said.<\/p>\n
The project will benefit four million people living in the
\nnorthern cities of Hanoi, Haiphong and Nam Dinh, it said in a
\nstatement.<\/p>\n
Bong-Suh Lee, ADB's vice president, signed the agreements at a
\nceremony in Hanoi and said the ADB planned to approve loans
\ntotaling $260 million for Vietnam this year.<\/p>\n
It has already approved a $30 million loan to upgrade Saigon
\nport, and loans later this year totaling $150 million would
\nassist water supply, fisheries and rural development projects, he
\ntold Reuters.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/adb-loan-for-vietnam-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}