4:04 PM, 15/08/2011
VN to talk northern transport project with ADB
VGP – The Vietnamese Government plans to negotiate with the Asian Development Bank a loan agreement for a transport project in mountainous northern provinces.
The Vietnamese negotiation delegation groups representatives of the Presidential Office, Office of Government, Ministry of Planning and Investment, State Bank of Việt Nam (SBV), Ministry of Foreign Affairs, and People’s Committees of Cao Bằng, Bắc Kạn, Hà Giang, Tuyên Quang, Yên Bái and Lào Cai provinces.
Mr. Nguyễn Vĩnh Hưng, Deputy Director of the SBV’s International Cooperation Department will lead the delegation to the negotiation, which is slated for Aug. 16-18 in Manila, the Philippines, according to an official dispatch released recently by the Office of Government.
Earlier on May 16, Prime Minister Nguyễn Tấn Dũng approved a portfolio of the project, which was designed to be carried out in two phases.
Investment capital for the first phase was estimated to total US $109.6 million, including US $80 million to be borrowed from the Asian Development Bank.
The first phase, scheduled for 2012-2017, will focus on upgrading some 300 km of roads in the provinces mentioned above.
By Hải Minh
