Vietnam gets $251m in loan from ADB
Play
Nguyen Van Binh, governor of the State Bank of Vietnam, and Tomoyuki Kimura, country director of the Asian Development Bank (ADB), signed three loan agreements totalling US$251 million (Bt7.68 trillion) in Hanoi.
The loans are aimed at helping Vietnam strengthen its education sector, ensure a reliable electricity supply and improve its flood-and-drought management and mitigation measures.
A $90 million loan from the ADB's Asian Development Fund for the Second Upper Secondary Education Development Project will help students get ready for tertiary and vocational career development. Another $110.19 million of the loan will cover the second tranche of a $730 million power transmission investment programme that the ADB approved in December 2011.
In addition, in order to help Vietnam improve its flood-and-drought management measures and reduce economic losses, the ADB provided a loan of $45 million, while the Australian Agency for International Development (AusAID) offered a grant of $5.9 million.
