Extension of disbursement time of ADB loan for infrastructure development in 4 Central provinces

President Vo Van Thuong has just signed Decision No. 167/QD-CTN dated February 20, 2024 allowing the amendment of Agreements No. 3634-VIE and 3635-VIE (COL) for the Basic Infrastructure Project for Comprehensive Development of Nghe An, Ha Tinh, Quang Binh , Quang Tri provinces, borrowing capital from the Asian Development Bank (ADB) based on the Government's proposal in Submission No. 53/TTr-CP dated February 2, 2024.

Illustration - Photo: ST

The Basic Infrastructure Project for Comprehensive Development of the Four Provinces mentioned above has been committed by ADB to provide loans of: 52 million USD (Agreement No. 3634-VIE) and 97 million USD (Agreement No. 3635-VIE (COL). The Project has been approved by the competent authorities of Nghe An, Ha Tinh , Quang Binh, Quang Tri provinces to adjust the Project, in which the Project implementation period is adjusted to September 30, 2025.

The amended Agreements extend the disbursement deadline to September 30, 2025, allowing the governing bodies to continue using ADB's concessional loans, promoting economic and social development in localities under the Project.

HL.

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