Monday, 20 May 2019

ADB supports US$236-million project for roads in northern Vietnam

Updated at Tuesday, 03 Jul 2018, 14:24
The Hanoitimes - The project would give a boost to the transport network and trade in Vietnam’s northern remote regions.
Project Management Board 2 has just proposed the Ministry of Transport (MoT) seek goverment's approval for a project on building roads connecting northern mountainous regions, for which the Asian Development Bank (ADB) is a finance provider.
A part of Noi Bai - Lao Cai expressway
A part of Noi Bai - Lao Cai expressway
According to the Dau tu newspaper, the work would cost about US$236.6 million. Of the sum, US$192 million will be funded by ADB while the Vietnamese government will cover the remaining US$43.829 million.
As part of the project, a 147-kilometer route connecting Lai Chau province with Noi Bai – Lao Cai expressway and another one from Nghia Lo town (Yen Bai) to the expressway extending 51.4 kilometers would be built and upgraded, respectively.
Once approved by the government, an agreement to gurantee credit for the project would be signed prior to December 31, 2018, as proposed by the project preparation unit, as it intends to make use of preferential loan policy before Vietnam graduates from the Asian Development Fund (ADF) in January 2019.
ADB has put the project on the list of projects to get official funding in fiscal year 2018.
Currently, almost all the roads in Vietnam’s northern region, except for Noi Bai-Lao Cai highway, remain in low quality.
Hence, Vietnam’s government has increasingly invested in infrastructure in this region, aiming to complete the regional transport network, ensure the national security defense as well as optimize the efficiency of Noi Bai-Lao Cai expressway.                                                     
Cam Anh
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