VN to ratify ADB borrowing agreement for irrigation in Central part
VNGOP - PM Nguyễn Tấn Dũng sent on April 12 a proposal to the State President to consider and approve the borrowing agreement to take loans from the Asia Development Bank (ADB) to finance the Central Vietnam Irrigation Project.
Acting as a proxy for the PM, State Bank Governor Lê Đức Thúy signed with the ADB National Director in
According to the signed agreement, the project is totally worth of US$ 99 million, including US$ 74.3 million lent by ADB for 32 years with a grace period of eight years. The annual interest rate is 1% in the grace period and 1.5% in the following years. The Vietnamese Government will provide a corresponding capital of US$ 24.7 million from central and local budgets. The project aims at poverty alleviation in six provinces of Thanh Hóa, Quảng Bình, Quảng Trị, Thừa Thiên-Huế, Quảng Ngãi and Bình Định.
By Xuân Hoàng