Added loan requested, contract value increased for Project WB3
VNGOVNet – Considering the proposal of the Ministry of Transport (MT) and recommendations from the ministries of Planning and Investment, Finance, and the State Bank of Vietnam, the PM gave his opinions on January 18 on adding loan and increasing the value of contracts put to tender for domestic contractors involved in the Project to Upgrade National Highway 1 – Stage 3 (Project WB3) that is funded by the World Bank.
Accordingly, the PM assigned the MT to approve in the line with law the supplementation of 50 km of provincial road to the Project and report to the PM on the needed capital for the added road that will be financed by the World Bank credit under Project WB3.
The PM agreed in principle to ask for an additional US$ 20 million loan from the World Bank and readjust the value quota of contracts put to tender for domestic contractors from US$ 10.598 million to US$ 27 million.
The State Bank of Vietnam was entrusted to inform in writing the World Bank about the above-mentioned added loan request and readjusted contract value quota and complete any procedure for the readjusted credit if required by the donor.
By Xuân Hoàng
(Source: Document 110/TTg-CN)
